Case-Shiller Home Price Index Fell in May

Business Insider reports that home prices fell 0.2 percent month-on-month in May, according to the S&P/Case-Shiller home price index.

The fall came unexpectedly, as economists had estimated that home prices rose 0.3 percent month-over-month. When not seasonally adjusted, prices rose 1.1 percent month-over-month.

In a statement, S&P Dow Jones Indices’ David Blitzer said: “As home prices continue rising, they are sending more upbeat signals than other housing market indicators.”

Read more