Investing.com - The S&P/Case-Shiller home price index rose more-than-expected in August, posting its largest increase since February 2006, industry data showed on Tuesday.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 12.8% in August from a year earlier, above forecasts for an increase of 12.5%.
U.S. home prices in July rose by 12.3%, downwardly revised from a previously reported increase of 12.4%.
Month-on-month, U.S. home prices rose 1.3% in August, above expectations for a 0.8% increase, after rising by 1.8% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.18% to trade at 1.3763.
Meanwhile, U.S. stock future indices pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures indicated an increase of 0.1%, while the Nasdaq 100 futures signaled a rise of 0.1%.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 12.8% in August from a year earlier, above forecasts for an increase of 12.5%.
U.S. home prices in July rose by 12.3%, downwardly revised from a previously reported increase of 12.4%.
Month-on-month, U.S. home prices rose 1.3% in August, above expectations for a 0.8% increase, after rising by 1.8% in the preceding month.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.18% to trade at 1.3763.
Meanwhile, U.S. stock future indices pointed to a modestly higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.1% at the open, S&P 500 futures indicated an increase of 0.1%, while the Nasdaq 100 futures signaled a rise of 0.1%.