US 20-city house price index +5.89% vs +5.61% y/y expected (NSA)

The house price index from S&P, CoreLogic and Case-Shiller
– Prior was 5.85% y/y
– Prices rise 0.87% m/m vs +0.90% expected (seasonally adjusted)
– Prior SA m/m +0.69% (revised to +0.71%)
A few housing data points lately have missed badly, especially on the construction side. It’s likely just a blip given the strong underlying fundamentals and demand.