Here come Case-Shiller home prices ...
Economists forecast that the 20-city composite, which covers major US cities, was flat during the month, according to Bloomberg. That would represent the fifth straight month of flat or declining home prices, and indicate that the surge is slowing down in major metropolitan areas.
Bank of America Merrill Lynch forecasts that the national index continued to rise, and picked up by 0.3% month-on-month in July. That would leave the year-on-year gain unchanged at 5.1%, the economists said in a preview.
"We take signal from the CoreLogic index-same source data, different methodology- which showed another pick-up in July," they wrote.
"The case for continued price increases is still strong, as housing demand improves alongside the labor market but homes remain in short supply. Valuations have recovered to lofty levels though, meaning that the biggest gains are likely behind us and we should see deceleration moving forward."