The S&P/Case-Shiller 10-City Home Price Index increased by 1.3% in August following an increase of 1.7% in July, and up 1.4% in June. Over the year, the index has fallen by 10.6%, less than the 12.8% 12 month decline observed in July. The S&P/Case-Shiller 20-City Home Price Index increased by 1.2% over the month after increasing by 1.6% in July, up 1.4% in June, and a 0.5% increase in May. The index is down by 11.3% over the year compared to a 13.3% decline last year. This is the 7th consecutive month the indices have improved. 19 of all 20 indices showed improvements in the annual decline, with Cleveland as the exception.
The Consumer Confidence Index dropped to 47.4(1985=100) in October after dropping to 53.4% in September from 54.1% in August. The index was expected to increase with the consensus at 53.6%. The Present Situation Index decreased to 20.7 from 23.0 last month. The Expectations Index declined to 65.7 from 73.7 in September. Consumers outlook of current conditions and the short-term outlook grew more pessimistic along with a more negative outlook of the labor market.
Upcoming Releases
Durable Orders (10/28 at 8:30 AM EST)
New Home Sales (10/28 at 10:00 AM EST)
Initial Claims (10/29 at 8:30 AM EST)
GDP-Q3 Adv (10/29 at 8:30 AM EST)
