Categories: Markets

US: House price index up 0.1% in June, vs. 1.1% expected

US: House price index up 0.1% in June, vs. 1.1% expected
  • US house prices rose at a softer-than-expected pace in June.
  • The Cholar Index remains down in the American session.

Monthly data released by the US Federal Housing Finance Agency on Tuesday showed that the house price index rose 0.1% on a monthly basis in June. This data follows the increase of 1.3% in May and is below market expectations, which were 1.1%.

“House prices grew rapidly for most of the second quarter of 2022, but a slowdown has appeared in June’s monthly data,” said Dr. William Doerner, supervising economist in the FHFA Statistics and Research Division. “The pace of growth has slowed recently, which is consistent with other recent housing data.”

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For its part, the S&P/Case-Shiller index of house prices reached 18.6% annual in June, compared to the estimate of the analysts of 19.5%.

Market reaction

The Dollar Index remains in negative territory near 108.50 after the release of this data.

Source: Fx Street