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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.
US DATA
- FHFA house prices surprisingly dipped -0.07% M/M (SA, cons 0.1) in June after a marginally upward revised 0.02% (initial -0.02%).
- Prices have on balance flatlined in the latest two months to June and have seen M/M declines twice in the past six months (although 1H24 also saw a 1.3% jump in Feb).
- S&P CoreLogic house prices in the 20-city measure meanwhile increased by more than expected with 0.42%M/M (SA, cons 0.30) after an upward revised 0.39% (initial 0.34) in May.
- The two series show some further moderation in Y/Y growth (FHFA 5.2% Y/Y from a recent peak of 6.9%, CoreLogic 6.4% Y/Y from a recent peak of 7.5%) but both are holding up well considering the increase in relative supply over the past twelve months back to pre-pandemic levels for existing home sales and more broadly for new home sales.
- Recent trends are however showing a little more cooling, especially for the FHFA at 3.2% annualized (3m/3m) compared to the 5.1% in the 20-city S&P CoreLogic.
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.
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