2018 Economic Calendar
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FHFA House Price Index  
Released On 1/24/2018 9:00:00 AM For Nov, 2017
PriorPrior RevisedConsensusConsensus RangeActual
M/M change0.5 %0.6 %0.5 %0.3 % to 0.6 %0.4 %
Y/Y change6.6 %6.8 %6.5 %

Home prices rose a solid 0.4 percent in November with the year-on-year at 6.5 percent, based on FHFA's house price index. October's monthly rate is revised 1 tenth higher to 0.6 percent with the yearly rate revised 2 tenths higher to 6.8 percent. This index held near the 7 percent rate through much of last year underscoring the strength of the housing market.

The West North Central posted the strongest monthly gain in November at 0.9 percent followed by the South Atlantic at 0.8 percent. The East South Central at minus 1.1 percent and New England at minus 0.1 percent were the weakest. Year-on-year rates are led by the Mountain region at 8.9 percent followed by the Pacific region at 8.6 percent with the Mid-Atlantic at the bottom at plus 4.2 percent. Watch for the existing home sales and early price data on the month of December later this morning at 10:00 a.m. ET.

Consensus Outlook
Appreciation in home prices was one of 2017's biggest economic stories and the momentum likely continued into November following October's 0.5 percent monthly gain and 6.6 percent yearly gain. Forecasters see the FHFA house price index rising another 0.5 percent in November.

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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