U.S. Home Prices Down In May, But Consumer Confidence Strong

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U.S. Home Prices Down In May, But Consumer Confidence Strong

by Wochit 0:43 mins

U.S. Home Prices Down In May, But Consumer Confidence Strong

by Wochit 0:43 mins

U.S. single-family home prices fell unexpectedly in May, declining for the first time in more than two years in the latest signal of the wobbly state of the housing market. Still, U.S. consumers remained confident in the broader economic picture, with a key measure of consumer attitudes at its highest since October 2007 and views of the job market the brightest in six years. The S&P/Case Shiller composite index of 20 metropolitan areas declined 0.3 percent in May on a seasonally adjusted basis, its first fall since January 2012.

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