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