Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released.
U.S. home prices continued to fall in November according to S&P Case-Shiller's month-to-month national and 20-city home price indices, but home price growth rates remained in positive territory year-over-year. The national home price index posted a 7.70 percent year-over-year home price growth rate as of November 2022.
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller's National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April's record year-over-year home price growth pace of 20.60 percent.