Investing.com - The S&P/Case-Shiller home price index fell in line with expectations in March, declining for the 21st consecutive month, industry data showed on Tuesday.
In a report, Standard & Poor’s with Case-Shiller said its house price index fell at an annualized rate of 2.6% in March from a year earlier, in line with expectations.
U.S. home prices in February fell by an unrevised 3.5%.
Month-on-month, U.S. home prices were flat, defying expectations for a modest 0.2% increase.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “While there has been improvement in some regions, housing prices have not turned.”
Following the release of the data, the U.S. dollar was fractionally lower against the euro, with EUR/USD easing up 0.05% to trade at 1.2548.
Meanwhile, U.S. stock future indices held on to gains after the release of the data. The Dow Jones Industrial Average futures pointed to a gain of 0.65%, S&P 500 futures added 0.65%, while the Nasdaq 100 futures pointed to a rise of 0.75% at the open.
In a report, Standard & Poor’s with Case-Shiller said its house price index fell at an annualized rate of 2.6% in March from a year earlier, in line with expectations.
U.S. home prices in February fell by an unrevised 3.5%.
Month-on-month, U.S. home prices were flat, defying expectations for a modest 0.2% increase.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “While there has been improvement in some regions, housing prices have not turned.”
Following the release of the data, the U.S. dollar was fractionally lower against the euro, with EUR/USD easing up 0.05% to trade at 1.2548.
Meanwhile, U.S. stock future indices held on to gains after the release of the data. The Dow Jones Industrial Average futures pointed to a gain of 0.65%, S&P 500 futures added 0.65%, while the Nasdaq 100 futures pointed to a rise of 0.75% at the open.