What's New for 2019 A 3.8 Sport package becomes available. It's a set of cosmetic additions including a dedicated design of 19-inch alloy wheels, alloy-capped pedals and a different steering wheel. Save up to $9,912 on one of 4,599 used 2019 Dodge Durangos near you. Find your perfect car with Edmunds expert reviews, car comparisons, and pricing tools. For instance, existing home sales in Indiana remain strong, yet the sales rate through the first three quarters of 2019 is slightly off the record pace set last year. Meanwhile, Indiana's so-called 'months supply of inventory' measure in September 2019 was at an exceptionally low 3.6 months—just a tick lower than the 3.7 mark from the.
Frostbow Home Inventory 5 Lite. Catalog, organize, and track your household belongings. Frostbow Home Inventory 5 Lite MoviePhile. Organize your movie collection. These factors translated to significant home price growth in 2020, surpassing the previous year's levels with an average monthly year-over-year gain of 5.7%, compared with 3.8% in 2019.
IRVINE, Calif.--(BUSINESS WIRE)--CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for December 2020, providing a look back at the state of the housing market and the pandemic's impact on home price performance throughout 2020.
The housing market exceeded expectations in 2020, closing out the year with the highest annual home price gain since February 2014 in December at 9.2%. Despite a blip in April, home-purchase demand surged as record-low mortgage rates persuaded first-time homebuyers to enter the market. Meanwhile, the consequences of the pandemic were seen in the dwindling supply of homes — dropping, on average, 24% below 2019 levels — as homeowners delayed selling.
These factors translated to significant home price growth in 2020, surpassing the previous year's levels with an average monthly year-over-year gain of 5.7%, compared with 3.8% in 2019. Mediainfo 17 10. However, with the severe shortage of for-sale homes, we may see rising affordability concerns and some prospective buyers priced out of the market in 2021.
Top Takeaways:
- Nationally, home prices increased 9.2% in December 2020, compared with December 2019. On a month-over-month basis, home prices increased by 1% compared to November 2020.
- December 2020 gains across all of the 10 select metropolitan areas (Table 1) surpassed their December 2019 levels.
- Affordability concerns continue to persist as prices continue to steeply rise. For instance, in San Diego, prices increased 10.4% year over year in December 2020 compared to the 3% gain December 2019. San Diego home prices are also forecasted to increase an additional 8.2% over the next 12 months.
- At the state level, Idaho, Indiana and Maine had the strongest price growth in December, up 19.1%, 16.1% and 15.2%, respectively.
'At the start of the pandemic, many braced for a Great Recession-era collapse of the housing market,' said Frank Martell, president and CEO of CoreLogic. 'However, market conditions leading into the crisis — namely low home supply, desire for more space and millennial demand — amplified the rapid acceleration of home prices.' Statsey 1 0 6 – app usage statistics.
'Two record lows are fueling home price gains: for-sale inventory and mortgage rates,' said Dr. Frank Nothaft, chief economist at CoreLogic. 'Prospective sellers with flexible timetables have opted to delay listing their home until the pandemic fades or they are vaccinated. We can expect more inventory to come available in the second half of the year, leading to slowing in price growth toward year-end.'
The next CoreLogic HPI press release, featuring January 2021 data, will be issued on March 2, 2021 at 8:00 a.m. ET.
Methodology
The CoreLogic HPI™ is built on industry-leading public record, servicing and securities real-estate databases and incorporates more than 40 years of repeat-sales transactions for analyzing home price trends. Generally released on the first Tuesday of each month with an average five-week lag, the CoreLogic HPI is designed to provide an early indication of home price trends by market segment and for the 'Single-Family Combined' tier, representing the most comprehensive set of properties, including all sales for single-family attached and single-family detached properties. The indices are fully revised with each release and employ techniques to signal turning points sooner. The CoreLogic HPI provides measures for multiple market segments, referred to as tiers, based on property type, price, time between sales, loan type (conforming vs. non-conforming) and distressed sales. Broad national coverage is available from the national level down to ZIP Code, including non-disclosure states.
CoreLogic HPI Forecasts™ are based on a two-stage, error-correction econometric model that combines the equilibrium home price—as a function of real disposable income per capita—with short-run fluctuations caused by market momentum, mean-reversion, and exogenous economic shocks like changes in the unemployment rate. With a 30-year forecast horizon, CoreLogic HPI Forecasts project CoreLogic HPI levels for two tiers — 'Single-Family Combined' (both attached and detached) and 'Single-Family Combined Excluding Distressed Sales.' As a companion to the CoreLogic HPI Forecasts, Stress-Testing Scenarios align with Comprehensive Capital Analysis and Review (CCAR) national scenarios to project five years of home prices under baseline, adverse and severely adverse scenarios at state, metropolitan areas and ZIP Code levels. The forecast accuracy represents a 95% statistical confidence interval with a +/- 2% margin of error for the index.
About Market Risk Indicator
Market Risk Indicators are a subscription-based analytics solution that provide monthly updates on the overall 'health' of housing markets across the country. CoreLogic data scientists combine world-class analytics with detailed economic and housing data to help determine the likelihood of a housing bubble burst in 392 major metros and all 50 states. Market Risk Indicators is a multi-phase regression model that provides a probability score (from 1 to 100) on the likelihood of two scenarios per metro: a >10% price reduction and a ≤ 10% price reduction. The higher the score, the higher the risk of a price reduction.
About the Market Condition Indicators
As part of the CoreLogic HPI and HPI Forecasts offerings, Market Condition Indicators are available for all metropolitan areas and identify individual markets as 'overvalued,' 'at value,' or 'undervalued.' These indicators are derived from the long-term fundamental values, which are a function of real disposable income per capita. Markets are labeled as overvalued if the current home price indexes exceed their long-term values by greater than 10%, and undervalued where the long-term values exceed the index levels by greater than 10%.
Source: CoreLogic
The data provided are for use only by the primary recipient or the primary recipient's publication or broadcast. This data may not be resold, republished or licensed to any other source, including publications and sources owned by the primary recipient's parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data are illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Valerie Sheets at newsmedia@corelogic.com. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. The data are compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.
About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic logo, CoreLogic HPI and CoreLogic HPI Forecast are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2019 (table 1), according to the 'third' estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.0 percent.
The GDP estimate released today is based on more complete source data than were available for the 'second' estimate issued last month. In the second estimate, the increase in real GDP was also 2.1 percent. With the third estimate for the third quarter, upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were offset by a downward revision to private inventory investment (see 'Updates to GDP' on page 2).
The increase in real GDP in the third quarter reflected positive contributions from PCE, federal government spending, residential investment, exports, and state and local government spending that were partly offset by negative contributions from nonresidential fixed investment and private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).
The acceleration in real GDP in the third quarter reflected a smaller decrease in private inventory investment and upturns in exports and residential fixed investment that were partly offset by decelerations in PCE, federal government spending, and state and local government spending, and a larger decrease in nonresidential fixed investment.
Real gross domestic income (GDI) increased 2.1 percent in the third quarter, compared with an increase of 0.9 percent in the second quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.1 percent in the third quarter, compared with an increase of 1.4 percent in the second quarter (table 1).
Current‑dollar GDP increased 3.8 percent, or $202.3 billion, in the third quarter to a level of $21.54 trillion. In the second quarter, GDP increased 4.7 percent, or $241.4 billion (tables 1 and 3).
The price index for gross domestic purchases increased 1.4 percent in the third quarter, compared with an increase of 2.2 percent in the second quarter (table 4). The PCE price index A1278 macbook pro catalina. increased 1.5 percent, compared with an increase of 2.4 percent. Excluding food and energy prices, the PCE price index increased 2.1 percent, compared with an increase of 1.9 percent.
Updates to GDP
The percent change in real GDP in the third quarter was unrevised. Upward revisions to PCE and nonresidential fixed investment were offset by a downward revision to private inventory investment. For more information, see the Technical Note. A detailed 'Key Source Data and Assumptions' file (available at 10:00 A.M. today) is also posted for each release. For information on updates to GDP, see the 'Additional Information' section that follows.
Advance Estimate | Second Estimate | Third Estimate | |
---|---|---|---|
(Percent change from preceding quarter) | |||
Real GDP | 1.9 | 2.1 | 2.1 |
Current-dollar GDP | 3.5 | 3.8 | 3.8 |
Real GDI | … | 2.4 | 2.1 |
Average of Real GDP and Real GDI | … | 2.3 | 2.1 |
Gross domestic purchases price index | 1.4 | 1.4 | 1.4 |
PCE price index | 1.5 | 1.5 | 1.5 |
PCE price index excluding food and energy | 2.2 | 2.1 | 2.1 |
Corporate Profits
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $4.7 billion in the third quarter, in contrast to an increase of $75.8 billion in the second quarter (table 10).
Profits of domestic financial corporations decreased $4.7 billion in the third quarter, in contrast to an increase of $2.5 billion in the second quarter. Profits of domestic nonfinancial corporations decreased $5.5 billion, in contrast to an increase of $34.7 billion. Rest-of-the-world profits increased $5.5 billion, compared with an increase of $38.7 billion. In the third quarter, receipts decreased $10.0 billion, and payments decreased $15.5 billion.
* * *
Next release: January 30, 2020 at 8:30 A.M. EST
Gross Domestic Product, 4th Quarter and Year 2019 (Advance Estimate)
* * * Tips for winning at slot machine.
Release Dates in 2020 | ||||
Estimate | 2019 Q4 and 2019 annual | 2020 Q1 | 2020 Q2 | 2020 Q3 |
Gross Domestic Product | ||||
Advance Estimate | January 30, 2020 | April 29, 2020 | July 30, 2020 | October 29, 2020 |
Second Estimate | February 27, 2020 | May 28, 2020 | August 27, 2020 | November 25, 2020 |
Third Estimate | March 26, 2020 | June 25, 2020 | September 30, 2020 | December 22, 2020 |
Corporate Profits | ||||
Preliminary Estimate | --- | May 28, 2020 | August 27, 2020 | November 25, 2020 |
Revised Estimate | March 26, 2020 | June 25, 2020 | September 30, 2020 | December 22, 2020 |
Full Release & Tables(PDF)
Technical Note(PDF)
Tables Only(Excel)
Release Highlights(PDF)
Historical Comparisons(PDF)
Key source data and assumptions(Excel)
Revision Information
- Lisa Matalonigdpniwd@bea.gov
- Kate Pinardcpniwd@bea.gov
- Jeannine AversaJeannine.Aversa@bea.gov
Resources
Additional resources available atwww.bea.gov:
- Stay informed about BEA developments by reading the BEA blog, signing up for BEA's email subscription service, or following BEA on Twitter @BEA_News.
- Historical time series for these estimates can be accessed in BEA's interactive data application.
- Access BEA data by registering for BEA's data application programming interface (API).
- For more on BEA's statistics, see our monthly online journal, the Survey of Current Business.
- BEA's news release schedule
- NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts
Definitions
Gross domestic product (GDP) is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment.
Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ because they are constructed using largely independent source data.
Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at 'market value.' Also referred to as 'nominal estimates' or as 'current-price estimates.'
Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes.
The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents.
The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, 'persons.'
Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. t includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.
Disposable personal income is the income available to persons for spending or saving. It is equal to personal income less personal current taxes.
Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments.
Personal saving Alfred 4 0 36. is personal income less personal outlays and personal current taxes.
The personal saving rate is personal saving as a percentage of disposable personal income.
Profits from current production, referred to as corporate profits with inventory valuation adjustment (IVA) and capital consumption (CCAdj) adjustment in the National Income and Product Accounts (NIPAs), is a measure of the net income of corporations before deducting income taxes that is consistent with the value of goods and services measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic measures used in the national income and product accounts. Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. The rest-of-the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW.
For more definitions, see the Glossary: National Income and Product Accounts.
Statistical conventions
Annual-vs-quarterly rates. Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. For details, see the FAQ 'Why does BEA publish estimates at annual rates?' Quarterly not seasonally adjusted values are expressed only at quarterly rates.
Percent changes.Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For details, see the FAQ 'How is average annual growth calculated?' Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. All published percent changes are calculated from unrounded data.
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Calendar years and quarters. Unless noted otherwise, annual and quarterly data are presented on a calendar basis.
Quantities and prices. Quantities, or 'real' volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook.
Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2012) and then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. In tables that display chained-dollar values, a 'residual' line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate.
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Updates to GDP
BEA releases three vintages of the current quarterly estimate for GDP: 'Advance' estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency; 'second' and 'third' estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available.
The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign.
Vintage | Average Revision Without Regard to Sign (percentage points, annual rates) |
---|---|
Advance to second | 0.5 |
Advance to third | 0.6 |
Second to third | 0.3 |
Note - Based on estimates from 1993 through 2018. For more information on GDP updates, see Revision Information on the BEA Web site. |
Annual and comprehensive updates are typically released in late July. Annual updates generally cover at least the 5 most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements.
Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic profits and on net interest of domestic industries are not available. For fourth quarter estimates, these data are not available until the third estimate.