5/29: MetroIntelligence Economic Update by P. DUFFY
March Case-Shiller Index rose 3.7 percent year-on-year, slowest annual gain since 2012
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index was up 0.3 percent in March after seasonal adjustments. Year-on-year, it was up 3.7 percent, down from 3.9 percent in February and the slowest annual gain since 2012.
FHFA House price index up 1.1 percent in 1Q 2019 and 5.1 percent year-on-year
According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI), U.S. house prices rose 0.1 percent in March, 1.1 percent in the first quarter of 2019, and 5.1 percent between the first quarters of 2019 and 2018.
https://www.fhfa.gov/AboutUs/Reports/Pages/US-House-Price-Index-Report-1Q2019-March.aspx
May consumer confidence rebounds to highest levels since last fall
The Conference Board’s Consumer Confidence Index posted another gain in May to 134.1, and is now back to levels seen last fall when the Index was hovering near 18-year highs. Consumers expect the economy to continue growing at a solid pace in the short-term, and despite weak retail sales in April, these high levels of confidence suggest no significant pullback in consumer spending in the months ahead.
https://www.conference-board.org/data/consumerconfidence.cfm