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.”
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