by Bill McBride on 4/29/2013 08:35:00 PM
Monday, April 29, 2013
Earlier today from LPS: U.S. Home Prices Up 1.0 Percent for the Month; Up 7.3 Percent Year-Over-Year. LPS reported their House Price Index increased to $210,000 in February, up from $208,000 or 1.0% from January - and up from $196,000 or 7.3% from February 2012. The LPS index is 20.6% below the peak in 2006.
Tuesday economic releases:
• At 9:00 AM ET, the S&P/Case-Shiller House Price Index for February will be released. Although this is the February report, it is really a 3 month average of December, January and February. The consensus is for a 9.0% year-over-year increase in the Composite 20 index (NSA) for February. The Zillow forecast is for the Composite 20 to increase 8.9% year-over-year, and for prices to increase 0.7% month-to-month seasonally adjusted.
• At 9:45 AM, the Chicago Purchasing Managers Index for April. The consensus is for the index to be unchanged at 52.4.
• At 10:00 AM, the Conference Board's consumer confidence index for April. The consensus is for the index to increase to 62.0 from 59.7.
• Also at 10:00 AM, the Census Bureau will release the Q1 Housing Vacancies and Homeownership report. This report is frequently mentioned by analysts and the media to report on the homeownership rate, and the homeowner and rental vacancy rates. However, this report doesn't track other measures (like the decennial Census and the ACS) and this survey probably shouldn't be used to estimate the excess vacant housing supply.