2018 Economic Calendar
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FHFA House Price Index  
Released On 4/24/2018 9:00:00 AM For Feb, 2018
PriorPrior RevisedConsensusConsensus RangeActual
M/M change0.8 %0.9 %0.5 %0.4 % to 0.8 %0.6 %
Y/Y change7.3 %7.4 %7.2 %

The FHFA house price index, like Case-Shiller data also released this morning, shows extending strength in home prices. FHFA's index rose 0.6 percent in February which is 1 tenth above the consensus and on top of January's 0.9 percent rise. Year-on-year, the index is up 7.2 percent which is just off the upward revised 7.4 percent rate of January, a 4-year high.

Price traction is strongest out West with the Pacific up 10.3 percent year-on-year followed by the Mountain region at 9.0 percent. Growth is strong across all 9 regions in the survey with the Middle Atlantic in the rear but at a still respectable 4.8 percent rate.

Low supply is a major factor behind price appreaction, which proved last year to be solid source of household wealth.

Consensus Outlook
Growth in the FHFA house price index, which shot higher in January, is expected to slow in February to a consensus monthly gain of 0.5 percent. The year-on-year rate for this index burst over the 7 percent line in January to a 3-1/2-year high of 7.3 percent. Cities in the Pacific and Mountain states have running at or near 10 percent.

The Federal Housing Finance Agency (FHFA) House Price Index (HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac. The House Price Index is derived from transactions involving conforming conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac. In contrast to other house price indexes, the sample is limited by the ceiling amount for conforming loans purchased by these government-sponsored enterprises (GSE). Mortgages insured by the FHA, VA, or other federal entities are excluded because they are not "conventional" loans. The FHFA House Price Index is a repeat transactions measure. It compares prices or appraised values for similar houses.  Why Investors Care
The FHFA House Price Index captures price data for an important segment of the housing market - home purchases with mortgages financed or bundled by federal housing agencies. However, this HPI does not cover high end housing.
Data Source: Haver Analytics

2018 Release Schedule
Released On: 1/242/273/224/245/246/217/248/239/2510/2411/2712/27
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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