US: S&P/Case-Shiller Home Price Index rises 3.7% in May vs. 4% expected

• S&P/Case-Shiller Home Price Index rose less than expected in May.
• US Dollar Index clings to small gains, stays below 94.00.

According to the S&P/Case-Shiller, 20-metro area Home Price Index in the US increased by 3.7% on a yearly basis in May. This reading came in slightly lower than the market expectation of 4% and followed April's print of 3.9% (revised from 4%). 

Key takeaways

"US May home prices in 20 metro areas 0.0% seasonally adjusted vs revised 0.2% in April."

"US May home prices in 10 metropolitan areas 3.1% from year-ago vs revised 3.3% in April."

"US May home prices in 10 metro areas non-adjusted 0.3% vs 0.7% in April."

Market reaction

The US Dollar ındex largely ignored this data and was last seen gaining 0.08% on a daily basis at 93.73.