Urgent.. The composite home price index in the United States exceeds expectations in August.

Data released on Tuesday by Standard & Poor's (S&P) showed that the composite home price index in the United States increased by 5.2% year-on-year in August, which was higher than market expectations of a 4.9% increase. The previous reading for the index recorded a growth of 5.9% in July.

At the same time, the Home Price Index (HPI) recorded a monthly growth of 0.3% in August, which was also higher than forecasts that indicated a growth of 0.1% compared to July. The previous reading showed that the change in the home price index recorded a growth of about 0.2% in the previous month of July.

It is worth noting that this index measures the change in sale prices for single-family homes in 20 metropolitan areas. The index is released monthly within 60 days of the end of the month, and is one of the reports that provide unadjusted data on a seasonal basis.

Additionally, this index is considered one of the leading indicators to gauge the health of the housing sector because rising home prices attract investors and contribute to stimulating the industry. The significance of this index has increased recently in light of the rises in the housing sector amid recent increases in U.S. inflation and concerns about the potential impact of recent U.S. interest rate hikes on this sector.