US Case-Shiller April 20-city house price index +10.82% vs +11.5% y/y expected

The S&P/Case-Shiller composite 20-city house price index for April:

• Prior reading was +12.37% y/y
• Prices up 0.19% in the month, slower than the 0.8% expected

The y/y price rise is the slowest since March of last year but there’s nothing here to be worried about. Very little reaction from the market.