S&P/Case-Shiller home price index up 2% in August
Investing.com
Published Oct 30, 2012 09:03AM ET
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 2.0% in August from a year earlier, better than expectations for a 1.9% increase.
U.S. home prices in July rose by an unrevised 1.2%.
Month-on-month, U.S. home prices rose 0.5%, in line with expectations, after rising by 0.4% in the preceding month.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “The sustained good news in home prices over the past five months makes us optimistic for continued recovery in the housing market.”
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.45% to trade at 1.2963.
Meanwhile, U.S. stock future indices held on to mild losses after the release of the data. The Dow Jones Industrial Average futures pointed to a loss of 0.1%, S&P 500 futures were flat, while the Nasdaq 100 futures pointed to a decline of 0.35%.
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Written By: Investing.com
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