U.S. home prices slid 0.5 percent in July

Prices of U.S. single-family homes fell for a second straight month in July, the Federal Housing Finance Agency (FHFA) said on Wednesday.

The FHFA's house price index dropped by a seasonally adjusted 0.5 percent after declining by a revised 1.2 percent in June, which was previously reported as a 0.3 percent fall.

The regulator's index is calculated by using purchase prices of houses financed with mortgages sold to or guaranteed by mortgage finance companies Fannie Mae or Freddie Mac