US Case/Shiller housing data stronger than expected🗽

The Case-Shiller 20-City Home Price Index (year-over-year) rose by 1.8%, beating the forecast of 1.55%, but slowing from the previous 2.1%. The broader price index showed a 2.3% increase, down from 2.6% previously. On a monthly basis, prices declined by just -0.1%, compared to expectations of -0.2% and a previous reading of -0.2%. These are yet more figures from the U.S. housing market that suggest the sector has been supported by expectations of Fed rate cuts, with some buyers re-entering the market following recent price declines in certain regions.

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