United States House Price Index (HPI) y/y

House Price Index y/y measures average changes in the value of single-family homes in the US in the given month compared to the same period of the previous year. Higher housing prices can strengthen consumer confidence and lead to an increase in consumer spending, which in turn can lead to an increase in economic development and inflation. A higher than expected reading is seen as favorable for the US dollar, while lower readings are seen as negative.