US Case-Shiller composite-20 city house price index +8.1% vs +8.3% y/y expected

Highlights of the S&P/Case-Shiller home price indexes:

• Prior was 9.34% y/y
• Home prices down 0.2% m/m vs a flat reading expected

Separately, the FHFA says:

• US house prices up 0.4% vs 0.3% exp
• Prices up 5.1% y/y

The skew between the C-S and FHFA numbers is because of urbanization; demand is much higher for homes in major metropolitan centers.