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S&P/Case-Shiller home price index rises 8.1% in June

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Investing.com -

Investing.com - The S&P/Case-Shiller home price index rose at the slowest pace in 18 months in June, dampening optimism over the housing sector, industry data showed on Tuesday.

In a report, Standard & Poor's with Case-Shiller said its house price index rose at an annualized rate of 8.1% in June from a year earlier, below forecasts for a gain of 8.4% and following a rise of 9.3% in May.

Month-on-month, U.S. home prices climbed by a seasonally adjusted 1%, in line with forecasts and following an increase of 1.2% in the preceding month.

"Home price gains continue to ease as they have since last fall," says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.

Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD rising 0.09% to trade at 1.3203.

Meanwhile, U.S. stock index futures pointed to a higher open. The Dow 30 pointed to a gain of 0.15%, the S&P 500 indicated an increase of 0.15%, while the Nasdaq 100 signaled a rise of 0.2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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