2018 Economic Calendar
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S&P Corelogic Case-Shiller HPI  
Released On 1/30/2018 9:00:00 AM For Nov, 2017
PriorPrior RevisedConsensusConsensus RangeActual
20-city, SA - M/M0.7 %0.6 %0.4 % to 0.7 %0.7 %
20-city, NSA - M/M0.2 %0.2 %
20-city, NSA - Yr/Yr6.4 %6.3 %6.4 %6.3 % to 6.7 %6.4 %

Prices for existing homes rose a strong 0.7 percent in November to just beat expectations and match October's gain, according to Case-Shiller's 20-city adjusted index. Year-on-year, the index (both adjusted and unadjusted) rose a very strong 6.4 percent.

San Francisco easily leads the monthly gain at 1.8 percent which follows 1.3 percent gains in the prior 2 months. Year-on-year, it's Seattle that continues to lead at 12.7 percent rates the last 2 reports followed by Las Vegas at 10.6 percent and 10.2 percent. The softest showings continue to come from Washington, D.C. at a year-on-year plus 3.3 percent with Chicago at 3.6 percent.

But even the softest rates are easily above inflation rates and underscore the strength of housing demand and home prices. A limited number of homes on the resale market is a positive factor for prices though this is an increasing negative for sales which, in contrast to sales acceleration in the new home market, have in fact been flat.

Consensus Outlook
November's Case-Shiller report is expected to show a solid 0.6 percent gain for the adjusted 20-city index in what would underscore the strength of home-price appreciation which was one of the strongest aspects of the 2017 economy. The consensus for the unadjusted year-on-year rate is 6.4 percent.

The S&P Corelogic Case-Shiller home price index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. Composite indexes and regional indexes measure changes in existing home prices and are based on single-family home re-sales. The expanded 20-city measure is the key series. The original series (still available) covered 10 cities. A national index is published quarterly. The indexes are based on single-family dwellings with two or more sales transactions. Condominiums and co-ops are excluded as is new construction. The Case-Shiller Home Price Indices are published monthly on the last Tuesday of each month at 9:00 AM ET. The latest data are reported with a two-month lag. For example data released in January 2016 are for November. Note that S&P, citing large seasonal swings in the housing sector and the risk of adjustment inaccuracies, urges readers to track unadjusted data in this report.  Why Investors Care
The Case-Shiller Home Price Index is based on repeat transactions. That is, appreciation or depreciation is for same houses resold. This index is probably the best measure of changes in home prices. While it covers the gamut of types of houses sold, it is limited to metropolitan areas.
Data Source: Haver Analytics

2018 Release Schedule
Released On: 1/302/273/274/245/296/267/318/289/2510/3011/2712/26
Release For: NovDecJanFebMarAprMayJunJulAugSepOct

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