US: Housing Price Index at -0.7% in August

The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% on a monthly basis in August. This print followed July’s decrease of 0.6% and came in lower than the market expectation of -0.3%.

Meanwhile, the S&P/Case-Shiller Home Price Index arrived at 13.1% on a yearly basis in August, compared to analysts’ estimate of 14.4%.