Investing.com - The S&P/Case-Shiller home price index rose more-than-expected in September, posting its largest increase since February 2006, industry data showed on Tuesday.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 13.3% in September from a year earlier, above forecasts for an increase of 13%.
U.S. home prices in August rose by 12.8%.
Month-on-month, U.S. home prices rose 0.7% in September, in line with expectations, after rising by 1.3% in the preceding month.
Following the release of the data, the U.S. dollar trimmed losses against the euro, with EUR/USD adding 0.14% to trade at 1.3537 from 1.3547 ahead of the data.
Meanwhile, U.S. stock future indices were flat. The Dow Jones Industrial Average futures eased down 0.04%, S&P 500 futures pointed to a loss of 0.02%, while the Nasdaq 100 futures pointed to an increase of 0.04% at the open.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 13.3% in September from a year earlier, above forecasts for an increase of 13%.
U.S. home prices in August rose by 12.8%.
Month-on-month, U.S. home prices rose 0.7% in September, in line with expectations, after rising by 1.3% in the preceding month.
Following the release of the data, the U.S. dollar trimmed losses against the euro, with EUR/USD adding 0.14% to trade at 1.3537 from 1.3547 ahead of the data.
Meanwhile, U.S. stock future indices were flat. The Dow Jones Industrial Average futures eased down 0.04%, S&P 500 futures pointed to a loss of 0.02%, while the Nasdaq 100 futures pointed to an increase of 0.04% at the open.