2017 Economic Calendar
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FHFA House Price Index  
Released On 6/22/2017 9:00:00 AM For Apr, 2017
PriorPrior RevisedConsensusConsensus RangeActual
M/M change0.6 %0.7 %0.5 %0.5 % to 0.7 %0.7 %
Y/Y change6.2 %6.4 %6.8 %

Sales may be uneven but home prices are on the rise. FHFA's house price index jumped 0.7 percent in April with March revised 1 tenth higher and now also at 0.7 percent. The year-on-year rate is up 4 tenths to 6.8 percent which is the best showing in 3 years.

The Mountain region remains the strongest at year-on-year appreciation of 8.9 percent but, in a welcome sign of widening strength, the South has moved into second at 8.0 percent. The Pacific, always a front runner, sinks to 3rd at 7.5 percent. And there's been a switch at the bottom with the ever-lagging Mid-Atlantic region, at 5.5 percent, passing New England which at 5.3 percent (a rate that isn't that bad at all) is now the weakest of the 9 regions in this report.

The housing sector may have fumbled into the Spring selling season but home prices nevertheless are one of high points of the nation's economic data and are a major positive for household wealth. Watch on next week's calendar for Case-Shiller home prices where expectations, after this report, are likely to climb.

Consensus Outlook
The FHFA house price index has been posting solid rates of growth though slight slowing is expected for April, to a gain of 0.5 percent vs March's 0.6 percent. Pacific and Mountain are the leading regions with the Mid-Atlantic trailing.

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

2017 Release Schedule
Released On: 1/252/233/224/255/246/227/258/229/2110/2511/2812/21
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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