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Monday, January 27, 2014

Tuesday: Case-Shiller House Prices, Durable Goods, Richmond Fed Mfg Survey and More

by Calculated Risk on 1/27/2014 08:34:00 PM

Notes: I follow several house price indexes (Case-Shiller, CoreLogic, LPS, Zillow, FHFA, FNC and more). The timing of different house prices indexes can be a little confusing. LPS uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted.

From Black Knight (formerly LPS): U.S. Home Prices Up 0.3 Percent for the Month; Up 8.5 Percent Year-Over-Year

oday, the Data & Analytics​ division of Black Knight Financial Services (formerly the LPS Data & Analytics​ division) released its latest Home Price Index (HPI) report, based on November 2013 residential real estate transactions. The Black Knight HPI combines the company’s extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes. The Black Knight HPI represents the price of non-distressed sales by taking into account price discounts for REO and short sales.
The year-over-year increase was slightly less in November than in October. The LPS HPI is off 13.9% from the peak in June 2006.

• At 8:30 AM ET, the Durable Goods Orders report for December from the Census Bureau. The consensus is for a 1.6% increase in durable goods orders.

• At 9:00 AM, the S&P/Case-Shiller House Price Index for November. The consensus is for a 13.7% year-over-year increase in the Composite 20 index (NSA) for August.

• Also at 9:00 AM, the Chemical Activity Barometer (CAB) for January from the American Chemistry Council. This appears to be a leading economic indicator.

• At 10:00 AM, the Conference Board's consumer confidence index for January. The consensus is for the index to increase to 79.0 from 78.1.

• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for January. This is the last of the regional Fed surveys for January. The consensus is a reading of 10, down from 13 in December (above zero is expansion).

• Also at 10:00 AM, Regional and State Employment and Unemployment (Monthly) for December 2013.