October Case-Shiller Home Price Index
As is not unusual for the week between Christmas and New Years Day, the only widely watched report released this week was the Case-Shiller Home Price Index for October from S&P Case-Shiller, a report which is always released on the last Tuesday of each month.. This report doesn’t even report any prices of homes, but just a index generated by averaging relative sales prices of home sales that closed during August, September and October against the sales prices of the same homes when they sold during prior 3 month periods going back to January of 2000….by comparing repeat home sales prices on that basis, the Case-Shiller report indicated that their national home price index for those 3 months averaged 1.4% higher than it did for the same homes that sold during the same 3 month period a year earlier, which was up from the 1.3% year over year index increase indicated by their September report, which indexed sales prices from July, August and September, but down from the 3.8% year over year increase indicated by their October 2024 report, indexing sales prices of homes that sold during August, September and October of last year against those of a year earlier…
This week also brought the results from the last regional Fed manufacturing survey for December: the Dallas Fed Texas Manufacturing Outlook Survey reported its general business activity composite index slipped to -10.9 from November’s –10.4, meaning that a slightly larger plurality of Texas manufacturing executives saw worse business conditions than did a month ago.
(the above is the synopsis that accompanied my regular sunday morning news links emailing, which in turn was mostly selected from my weekly blog post on the global glass onion…if you’d be interested in receiving my weekly emailing of selected links, most of which are chosen from the aforementioned GGO posts, contact me…)
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