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Investing.com - The S&P/Case-Shiller home price index rose more-than-expected in October, 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 13.6% in October from a year earlier, above forecasts for an increase of 13%. U.S. home prices in September rose by 13.3%.
Month-on-month, U.S. home prices rose 0.2% in October, below expectations for a 0.7% increase, after rising by 0.7% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.15% to trade at 1.3779.
Meanwhile, U.S. stock future indices were higher. The Dow Jones Industrial Average futures eased up 0.2%, S&P 500 futures pointed to a rise of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.2% at the open.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 13.6% in October from a year earlier, above forecasts for an increase of 13%. U.S. home prices in September rose by 13.3%.
Month-on-month, U.S. home prices rose 0.2% in October, below expectations for a 0.7% increase, after rising by 0.7% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.15% to trade at 1.3779.
Meanwhile, U.S. stock future indices were higher. The Dow Jones Industrial Average futures eased up 0.2%, S&P 500 futures pointed to a rise of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.2% at the open.