Case Shiller Worse Than Expected (XHB)

The Case-Shiller Home Price Index was just released and results were worse than expected.

Case-Shiller showed a drop of 2% in the third quarter, and a drop of 0.5% in September. Economists were expecting a rise of 1.0%.

The 20 biggest markets rose 0.6% year over year, and the 10 biggest markets rose 1.6% year over year.

SPDR S&P Homebuilders ETF (NYSE: XHB) closed at $15.58 yesterday.