Investing.com – The S&P/Case-Shiller home price index fell more-than-expected in November, declining for the fifth consecutive month, industry data showed on Tuesday.
In a report, Standard & Poor with Case-Shiller said its house price index fell by 1.6% in November, after falling by 0.8% in October.
Analysts expected the house price index to fall by 1.3% in November.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “The series are now only 4.8% and 3.3% above their April 2009 lows, suggesting that a double-dip could be confirmed before Spring.”
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.30% to hit 1.3597.
Meanwhile, the outlook for U.S. equity markets was downbeat: Dow Jones Industrial Average futures indicated a drop of 0.31%, S&P 500 futures pointed to a decline of 0.49% and Nasdaq 100 futures were down 0.59%.
In a report, Standard & Poor with Case-Shiller said its house price index fell by 1.6% in November, after falling by 0.8% in October.
Analysts expected the house price index to fall by 1.3% in November.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “The series are now only 4.8% and 3.3% above their April 2009 lows, suggesting that a double-dip could be confirmed before Spring.”
Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.30% to hit 1.3597.
Meanwhile, the outlook for U.S. equity markets was downbeat: Dow Jones Industrial Average futures indicated a drop of 0.31%, S&P 500 futures pointed to a decline of 0.49% and Nasdaq 100 futures were down 0.59%.