August US Case-Shiller house price index 1.6% y/y vs 1.3% expected

• Prior was +1.8%
• Monthly house prices +0.2% vs -0.1% expected (-0.1% prior)

FHFA data:

• Annually +2.3% vs +2.3% prior
• Monthly +0.4% vs -0.1% prior

In the Case-Shiller data, there are some seasonal adjustments for the normal decline in August home prices and that could be flattering these numbers. The unadjusted number is -0.6% m/m.