According to the S&P/CS Composite-20 HPI, prices rose by 3% year over year in September, better than 2.9% that was expected. Prices rose 0.4% month-over-month.
This adds to other good signs from this sector. While manufacturing is still muddling along, the US housing sector could lift the whole economy. This sector took it down crashing, and it can also work in the other direction.
The official FHFA HPI is scheduled to be released at 15:00 GMT, but it will probably be overshadowed by the CB Consumer Confidence figure. Tomorrow, the US will release the number of new home sales. See how to trade this event with USD/JPY.
Earlier, the US also reported better than expected numbers in durable goods orders: the headline number remained unchanged, better than a slide of 0.6% that was expected. Core orders rose by 1.5%, significantly better than the same expectations for a 0.6% drop.
