MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US DATA: City House Price Inflation Proving Stickier Than Rural Areas

US DATA
USGlobalEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • FHFA house prices registered a third relatively tepid month in July, rising 0.12% M/M (sa, cons 0.2) after two flat months (although June was revised up slightly from -0.07 to 0.00).
  • The year-ago rate is still solid at 4.5% Y/Y although 3m/3m pace has slowed to just 1.3% annualized.
  • The S&P CoreLogic 20-city measure meanwhile is running hotter despite surprising lower, with 0.27% M/M in July (sa, cons 0.4) after two months averaging 0.43% M/M.
  • This relative outperformance to the national FHFA series is clear in trend growth, with 5.9% Y/Y and a still solid 3m/3m rate of 4.8% annualized.
  • Still prone to potential revisions, the difference between the two series tentatively suggests prices for city dwellings are proving stickier than more rural counterparts. 
123 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • FHFA house prices registered a third relatively tepid month in July, rising 0.12% M/M (sa, cons 0.2) after two flat months (although June was revised up slightly from -0.07 to 0.00).
  • The year-ago rate is still solid at 4.5% Y/Y although 3m/3m pace has slowed to just 1.3% annualized.
  • The S&P CoreLogic 20-city measure meanwhile is running hotter despite surprising lower, with 0.27% M/M in July (sa, cons 0.4) after two months averaging 0.43% M/M.
  • This relative outperformance to the national FHFA series is clear in trend growth, with 5.9% Y/Y and a still solid 3m/3m rate of 4.8% annualized.
  • Still prone to potential revisions, the difference between the two series tentatively suggests prices for city dwellings are proving stickier than more rural counterparts.