NEW YORK, July 31 (Reuters) - U.S. single-family home prices rose for the fourth month in a row in May on a seasonally adjusted basis, suggesting the recovery in the housing market continued to gain traction, a closely watched survey showed on Tuesday.
COMMENTS:
OMER ESINER, CHIEF MARKET ANALYST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON
"The numbers look good. It's the fourth straight monthly increase in home prices according to Case Shiller. However, this is a May report and likely does not reflect the slowdown in housing activity we have seen in June. I am largely discounting this number as more recent metrics have highlighted a slowdown in recent weeks."
SUBODH KUMAR, CHIEF INVESTMENT STRATEGIST, SUBODH KUMAR & ASSOCIATES IN TORONTO
"In this uncertain economic environment, real estate continues to show improvement off the bottom. That's one of the few encouraging signs we've seen. This is in line with that, but I don't think we'll move much on this."
MARKET REACTION
STOCKS: U.S. stock index futures maintained their slight earlier gain [.N]
(Americas Economics and Markets Desk; +1-646 223-6300)
Source: http://news.yahoo.com/instant-view-u-home-prices-rise-fourth-month-130900350--business.html
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