The S&P/Case-Shiller 10-City Home Price Index increased by 1.7% in July following an increase of 1.4% in June, a 0.5% increase in May, and a 0.7% decrease in April. Over the year, the index has fallen by 12.8%. The S&P/Case-Shiller 20-City Home Price Index increased by 1.6% over the month after increasing 1.4% in June, 0.5% increase in May, and a 0.6% decrease in April. The index is down by 13.3% over the year. All 20 metropolitan areas in the index showed improvement over the month, with only Seattle and Las Vegas continuing to show monthly declines, as the rate of annual decline in the indices have diminished since early 2009. The index is back to fall 2003 levels since falling by 33.5% (10-City) and by 32.6% (20-City) since the indices peaked in the second quarter of 2006.
The Consumer Confidence Index dipped to 53.1 (1985=100) in September after jumping to 54.1% in August from 47.4% in July, although expected to increase to 57.2. The Present Situation Index decreased to 22.7 from 24.9 from 25.4 last month. The Expectations Index edged down to 73.3 from 73.8 in August. Consumers outlook of business conditions were less favorable while the short-term outlook was slightly more pessimistic while the labor market outlook was essentially unmoved.
Upcoming Releases
GDP Q2 Final (09/30 at 8:30 AM EST)
Initial Claims (10/01 at 8:30 AM EST)
Consumer Spending (10/01 at 8:30 AM EST)
ISM Manufacturing Index (10/01 at 10:00 AM EST)
Pending Home Sales (10/01 at 10:00 AM EST)
Unemployment Rate (10/02 at 8:30 AM EST)
