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US: Case-Shiller Home Price Index
| Consensus | Consensus Range | Actual | Previous | |
| 20-City Adjusted - M/M | 0.2% | 0.1% to 0.2% | 0.3% | 0.2% |
| 20-City Unadjusted - M/M | 0.0% | 0.4% | ||
| 20-City Unadjusted - Y/Y | 2.1% | 2.0% to 2.2% | 2.5% | 2.1% |
Highlights
Housing price inflation rose a bit in July to a 2.5 percent rate from a year ago versus the 2.2 percent figure in June in the Case Shiller 20-city measure. On the month, prices are up 0.3 percent, seasonally adjusted, and flat not seasonally adjusted. The Econoday consensus looked for 2.1 percent on year and 0.2 percent on the month.
These are very modest increases but they bear watching as the disinflationary dynamic appears to have lost its momentum to the downside.
For the national home price index, Case-Shiller reports a 1.9 percent annual gain for July. Chicago sees the highest annual gain among the 20 cities with a 6.9 percent increase in July, followed by New York and Cleveland with annual increases of 5.8 percent and 4.2 percent, respectively. Seattle sees the worst showing, down 1.6 percent on year.
Market Consensus Before Announcement
The consensus sees the index up 0.2 percent on the month and 2.1 percent on year in July exactly the same as in June.