September 2016 US Case Shiller 20 city HPI 0.4% vs 0.4% exp m/m SA

September 2016 US Case Shiller 20 city House price index report 29 November 2016

• Prior 0.2%

• 5.1% vs 5.2% exp y/y NSA. Prior 5.1%

• 0.1% vs 0.45 exp m/m NSA. Prior 0.4%

• National HPI 0.8% vs 0.6% prior m/m SA

• 5.46% vs 5.32% exp y/y NSA. Prior 5.15%

There's still nothing hot about US house prices. That would be a concern if there were but it's also a concern when it's not. Usually house prices are the first thing to heat up in a recovery so not seeing this happen, in the midst of a supposed recovery should be ringing alarm bells. It might just be there's still many folks wary about overextending themselves and being caught out again, or it could mean that households are not as financially strong as many think.

US Case Shiller HPI y/y NSA