Home prices rise more than expected

US home prices rose more than expected in September.

The S&P/Case-Shiller home price report showed a 0.6% rise month-on-month, and 5.5% year-on-year.

Economists had estimated that the 20-city index rose 0.3% month-on-month, and 5.10% year-on-year.

“The Case-Shiller indices continued to grow at a consistent pace as the summer came to a close, and in line with more recent data that continues to show stabilisation, if not quite normalization, in the U.S. housing market,” said Zillow Chief Economist Svenja Gudell in a statement.

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