US 20-city home price data from Case-Shiller
- Prior was 19.9%
- Prices up 1.2% m/m vs 1.5% prior
The FHFA August house price index was released at the same time:
- Prices m/m +1.0% vs +1.3% expected
- Prior was +1.4%
Both of these are on the soft side but prices rising 1.0-1.2% each month is a recipe for serious home price inflation. I suspect covid weighed on sales in the month. In an hour we will get new home sales for Sept.
