The S&P/Case-Shiller Home Price Indices released in 26/07/2016 have shown a slightly pullback at 5.2% with a market consensum at 5.5%.
The result compared with the new Houses recovery at +654k and with Housing Starts at +2.1% can be evaluated as an indication of the solidity of the House Market.
This static represents the change in the selling price of single-family homes in 20 metropolitan areas and is a health indicator for the current housing condition. Thus the higher the statistic, the more investors are attracted. Last month the static came in at 5.2 vs the 5.4 expected and it was the lowest ever in the five releases thus i expect the release to beat the 5.1 forecast because of the good employment numbers from the US.
US S&P Case-Shiller Home Price Index has been on the increase since Jan’16….in fact, except for Oct&Nov’15 (which have marginal decrease)…the index has been increasing from 180.62 since June 2015.
Market expect a 0.8% over last 0.9%, but I think the figure will beat market expectation for a bullish USD/JPY