U.S. Housing Prices Continue on Upward Trend

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 2.6% annual change in August, up from a 1.0% change in the previous month, S&P Dow Jones Indices said Tuesday. The 10-City Composite showed an increase of 3.0%, up from a 1.0% increase in July. The 20-City Composite posted a year-over-year increase of 2.2%, up 0.2% from July.

Chicago led the way for the fourth consecutive month, reporting the highest year-over-year gain among the 20 cities in August. Although seven of 20 cities reported lower prices compared to July, 19 of the 20 cities showed a positive trend in Y-O-Y price acceleration.

“U.S. home prices continued to rise in August 2023,” said Craig J. Lazzara, Managing Director at S&P DJI. “Our National Composite rose by 0.4% in August, which marks the seventh consecutive monthly gain since prices bottomed in January 2023.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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