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25 Oct 2022
US: Housing Price Index at -0.7% in August vs. -0.3% expected
- House prices in the US continued to decline in August.
- US Dollar Index trades in negative territory below 112.00.
The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% on a monthly basis in August. This print followed July's decrease of 0.6% and came in lower than the market expectation of -0.3%.
Meanwhile, the S&P/Case-Shiller Home Price Index arrived at 13.1% on a yearly basis in August, compared to analysts' estimate of 14.4%.
Market reaction
With the initial market reaction, the greenback weakened against its rivals with the US Dollar Index losing 0.17% on the day at 111.80.