Case-Shiller came in slightly better than expectations, but the number is still terrible.
The US national index plunged 5.88% year-over-year. The 20-city composite declined 4.5% year-over-year versus expectations of 4.7%.
Despite year-over-year declines, the national index increased 3.6% in Q2 from Q1. The 10-city composite and 20-city composite were up 1.1% in June.
America is of course in a housing double dip.
Preview: A Bloomberg survey projected a 4.7% year-over-year decline in June, the biggest fall in 19 months.
The Case-Shiller 20-City Index was down 4.51% in May and 4.22% in April.