On Tuesday, June 26, the S&P CoreLogic Case-Shiller Home Price Index (HPI) will release giving a snapshot of the movement of home prices in April. The index gauges U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.
Last month, the HPI for March indicated that home prices showed no signs of slowing down. Nationally, the index reported a 6.5 percent annual gain in March, while the 10-City Composite annual increase came in at 6.5 percent, slightly rising from 6.4 percent in the previous month. The 20-City Composite on the index remained unchanged from the previous month posting a 6.8 percent year-over-year gain in home prices. Cities like Seattle, Las Vegas, and San Francisco reported the highest year-over-year gains among the 20 cities on the HPI.
In March, Seattle led the way with a 13 percent year-over-year price increase; followed by Las Vegas with a 12.4 percent increase; and San Francisco with an 11.3 percent increase. Twelve of the 20 cities on the HPI reported greater price increases in March 2018 compared with February.
Here’s what else is in store in The Week Ahead:
- New Home Sales, Monday, 10 a.m. ET
- Consumer Confidence Index, Tuesday, 10 a.m. ET
- MBA Mortgage Apps, Wednesday, 7 a.m. ET
- NAR Pending Home Sales Index, Wednesday, 10 a.m. ET
- GDP Data, Thursday, 8:30 a.m. ET
- Fed Balance Sheet, Thursday, 4:30 p.m. ET