Here Comes Case-Shiller...

The July S&P/Case-Shiller home price index is set for release at the top of the hour.

Expectations for prices to be flat month-over-month and rise 7.4% on a year-over-year basis.

Last month, the June report showed home prices unexpectedly fell 0.2% month-over-month, while home prices rose 8.1% year-over-year, a 17-month low.

In a note to clients ahead of Tuesday's report, Ian Shepherdson at Pantheon Macro said the Case-Shiller report is a "bit of a wild card," adding that he expects to see a, "broadly unchanged month-to-month number for July, though we'd be less surprised by strength than weakness."

We'll be back with the live numbers when they hit.