US March Case-Shiller 20-city house price index +21.2% y/y vs +20.0% expected

Read full post at forexlive.com

• Prior was +20.2%
• Prices up % in the month +2.4% vs +2.0% expected
• Prior m/m rise +2.4%

FHFA data:

• National index 19.0% y/y vs 19.3% prior
• m/m +1.5% vs +1.9% prior

This is March data so it’s stale. There’s been a slowdown in April/May and housing-related stocks have been crushed on speculation about 2008-redux but I believe it’s far more likely we see a period of flat prices than a broad decline, though that seems to be a minority view.