Investing.com – The S&P/Case-Shiller home price index fell slightly more-than-expected in February, declining for the eighth consecutive month, industry data showed on Tuesday.
In a report, Standard & Poor with Case-Shiller said its house price index fell by -3.3% in February, after dropping by -3.1% in January.
Analysts expected the house price index to fall by -3.2% in February.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing.”
“Ten of the 11 Metropolitan Statistical Areas that recorded index lows in January fell further in February. The 20-City Composite is within a hair’s breadth of a double dip.” Mr. Blitzer added.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.31% to hit 1.4627.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.37%, S&P 500 futures indicated a gain of 0.45%, while the Nasdaq 100 futures added 0.4%.
In a report, Standard & Poor with Case-Shiller said its house price index fell by -3.3% in February, after dropping by -3.1% in January.
Analysts expected the house price index to fall by -3.2% in February.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing.”
“Ten of the 11 Metropolitan Statistical Areas that recorded index lows in January fell further in February. The 20-City Composite is within a hair’s breadth of a double dip.” Mr. Blitzer added.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.31% to hit 1.4627.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.37%, S&P 500 futures indicated a gain of 0.45%, while the Nasdaq 100 futures added 0.4%.