The S&P CoreLogic Case-Shiller home price index rose 2.1% year-over-year in June, beating forecasts, even as US housing starts fell 12.4% in July and the Chicago Fed's regional activity gauge turned negative. The divergence complicates the case for a near-term rate cut.
Half of the 50 largest U.S. metro housing markets are already posting year-over-year price declines even as the national Case-Shiller gauge accelerated to a 2.1% gain. Source
