2017 Economic Calendar
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FHFA House Price Index  
Released On 8/22/2017 9:00:00 AM For Jun, 2017
PriorPrior RevisedConsensusConsensus RangeActual
M/M change0.4 %0.3 %0.5 %0.3 % to 0.6 %0.1 %
Y/Y change6.9 %6.5 %

The FHFA house price index came in at a very soft 0.1 percent increase in June, well short of Econoday's consensus for 0.5 percent and low estimate of 0.3 percent. This is both good news and bad news, as slowing price appreciation should help affordability for home sales but will also limit growth in household wealth. Despite June's weakness, year-on-year prices remain very strong, at plus 6.5 percent which is nearly a percentage point above Case-Shiller's data. Watch on next week's calendar for June data from Case-Shiller.

Consensus Outlook
The FHFA house price index has been posting solid rates of growth with 0.5 percent the consensus for June which would compare with 0.4 percent in May. The year-on-year rate in May, at 6.9 percent, was a 3-1/2 year high.

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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