Investing.com – The S&P/Case-Shiller home price index fell more-than-expected in August, declining for the fourteenth consecutive month, industry data showed on Tuesday.
In a report, Standard & Poor with Case-Shiller said its house price index fell by 3.8% in August, disappointing expectations for a 3.5% decline.
The previous month’s figure was revised to a drop of 4.2% from a previously reported decline of 4.1%.
The report showed that U.S. home prices were unchanged in August from July, snapping a streak of four consecutive months of gains.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “There was some weakness in the monthly statistics, as 10 of the cities post price declines in August over July.”
“Nationally, home prices are still below where they were a year ago,” Mr. Blitzer added.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD edging 0.1% lower higher to trade at 1.3915.
Meanwhile, U.S. stock index futures pointed to a lower open The Dow Jones Industrial Average futures indicated a loss of 0.65%, S&P 500 futures fell 0.6%, while the Nasdaq 100 futures shed 0.5%.
In a report, Standard & Poor with Case-Shiller said its house price index fell by 3.8% in August, disappointing expectations for a 3.5% decline.
The previous month’s figure was revised to a drop of 4.2% from a previously reported decline of 4.1%.
The report showed that U.S. home prices were unchanged in August from July, snapping a streak of four consecutive months of gains.
Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “There was some weakness in the monthly statistics, as 10 of the cities post price declines in August over July.”
“Nationally, home prices are still below where they were a year ago,” Mr. Blitzer added.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD edging 0.1% lower higher to trade at 1.3915.
Meanwhile, U.S. stock index futures pointed to a lower open The Dow Jones Industrial Average futures indicated a loss of 0.65%, S&P 500 futures fell 0.6%, while the Nasdaq 100 futures shed 0.5%.