Here Comes Case-Shiller Home Prices...

Economists polled by Bloomberg are looking for the 20-city index to rise 0.8% month-over-month and 13% on the year.

This compares to a 0.85% MoM rise and a 13.24% YoY rise.

Ian Shepherdson at Pantheon Macroeconomics has warned about reading too much into this data. He argues that Case Shiller data is compromised by foreclosures.

"As foreclosed homes typically sell for much less than regular private sales, a decline in the proportion of foreclosure sales will raise reported prices," he writes.

So perhaps we should interpret these numbers a bit more caution.