November 1, 2019 Comments Off on S&P CoreLogic Case-Shiller: U.S. Home Price Increases Continue to Slow Views: 1012 National News, Top National

The latest S&P CoreLogic Case-Shiller Indices show that the rate of home price increases across the U.S. continued to slow in August. The U.S. National Home Price NSA Index reported a 3.2% annual gain in August, up from 3.1% in the previous month.

The 10-City Composite annual increase came in at 1.5%, down from 1.6% in the previous month. The 20-City Composite posted a 2% year-over-year gain, no change from the previous month.

“The U.S. National Home Price NSA Index trend remained intact with a year-over-year price change of 3.2%,” says Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices. “However, a shift in regional leadership may be underway beneath the headline national index.

Phoenix, Charlotte, and Tampa reported the highest year-over-year gains among the 20 cities. In August, Phoenix led the way with a 6.3% year-over-year price increase, followed by Charlotte with a 4.5% increase and Tampa with a 4.3% increase. Seven of the 20 cities reported greater price increases in the year ending August 2019, versus the year ending July 2019.

The report shows the National Index posted a month-over-month increase of 0.2% in August, before seasonal adjustment.

August 2019 August/July July/June 1-Year Metropolitan Area Level Change (%) Change (%) Change (%) Atlanta 153.81 0.2% 0.1% 4.0% Boston 224.74 0.1% 0.2% 3.9% Charlotte 165.40 0.1% 0.3% 4.5% Chicago 147.01 0.1% 0.3% 1.4% Cleveland 127.75 0.3% 1.1% 2.9% Dallas 192.63 0.0% 0.2% 2.8% Denver 223.34 -0.2% 0.0% 2.9% Detroit 129.44 0.1% 0.3% 3.8% Las Vegas 194.37 -0.2% 0.6% 3.3% Los Angeles 286.04 0.0% -0.3% 1.0% Miami 244.91 0.3% 0.3% 2.9% Minneapolis 180.60 0.2% 0.7% 3.9% New York 201.29 0.1% 0.1% 0.9% Phoenix 195.76 0.9% 0.7% 6.3% Portland 241.17 0.0% 0.7% 2.6% San Diego 263.23 -0.2% 0.7% 2.3% San Francisco 268.81 -0.5% 0.0% -0.1% Seattle 255.35 -0.3% 0.2% 0.7% Tampa 220.58 0.3% 0.4% 4.3% Washington 234.67 0.0% -0.1% 2.7% Composite-10 230.83 0.0% 0.1% 1.5% Composite-20 218.14 0.0% 0.2% 2.0% U.S. National 212.06 0.2% 0.4% 3.2% Sources: S&P Dow Jones Indices and CoreLogic Data through August 2019

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S&P CoreLogic Case-Shiller: U.S. Home Price Increases Continue to Slow

Dennis Kaiser