US house prices rose in the month of July, with the house price index coming in at 1.0 per cent from 0.7 per cent in June. Expectations were for 0.9 per cent.
July is the 18th consecutive month in which the index has risen.
The Case-Shiller index, which measures residential real estate house prices in 20 regions of the US, met expectations for July year-on-year, coming in at 12.4 per cent, up from June's 12.1 per cent.
Although figures are rising, the pace of growth is dwindling and is at a ten-month low.
For those howling about Case-Shiller slowing down...we should HOPE it slows down. The pace of price gains was unsustainable.— Dan Greenhaus (@DanBTIG) September 24, 2013