House price data from Case-Shiller
– Prior was 5.38% y/y
– Prices up 0.85% m/m vs +0.70% exp
– Index rises to 184.5 from 182.86
– The national house price index +5.15% y/y vs +5.32% prior
House price gains accelerated a bit more than expected. The one spot where inflation is well-entrenched is housing. That may be something the Fed would like to lean against but it’s a tiny factor in the Fed picture.
US March S&P/Case-Shiller 20-city house price index 5.43% vs 5.11% y/y expected
ByAdam Button
May 31, 2016