Annual home price appreciation continued its upward trend in January, though signs of moderation are shining through on a monthly basis.
Prices were up 6% YOY, an increase from December’s 5.6% gain and the fastest annual rate since 2022, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.
San Diego once again reported the highest annual gains at 11.2%, followed by Los Angeles with an 8.6% increase. Portland showed a 0.9% increase, the smallest YOY growth.
This is the second straight month of price growth in every city analyzed, putting U.S. home prices at a new all-time high, breaking every record set last year.
“While there is a large disparity between leaders such as San Diego versus laggards…
Data released today shows home price gains improved in August both annually and month-over-month.
Year-over-year, prices rose 2.6%, up from 1% in July, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.
Prices were up 0.4% month-over-month before seasonal adjustment and 0.9% after. This is the seventh consecutive month of increases.
Home prices are now at all-time highs in the two composites and seven stand-alone cities, and prices rose in 19 of 20 cities after seasonal adjustment (13 of them before adjustment, as well). The National Composite surpassed its previous record high with this data.
Craig Lazzara, managing director at S&P DJI, noted that regional differences remain “substantial.”
“On a year-over-year basis, the three best-performing metropolitan areas in…
Home price appreciation continued to cool in September though growth remained elevated from a year earlier, according to new data. The S&P CoreLogic Case-Shiller National Home Price NSA Index saw home prices decelerate, posting a 10.6% annual gain in August, down from 12.9% in the previous month. Craig J. Lazzara, Managing Director at S&P DJI, said all three composites are above their historical medians but peaked about six months ago. “As has been the case for the past several months, our September 2022 report reflects short-term declines and medium-term deceleration in housing prices across the U.S.,” he said. “As the Federal Reserve continues to move interest rates higher, mortgage financing continues to be more expensive and housing becomes less affordable. Given the…
Home price appreciation continued to cool in August though growth remained elevated from a year earlier, according to new data. The S&P CoreLogic Case-Shiller National Home Price NSA Index saw home prices decelerate, posting a 13% annual gain in August, down from 15.6% in the previous month. This is the largest monthly deceleration in the history of the index, pushing July’s record to second place. Craig J. Lazzara, Managing Director at S&P DJI, called current trends a “forceful deceleration” of home prices. “These data show clearly that the growth rate of housing prices peaked in the spring of 2022 and has been declining ever since,” he said. “As the Federal Reserve moves interest rates higher, mortgage financing becomes more expensive…
Home price appreciation cooled in July though growth remained elevated from a year earlier, according to new data. The S&P CoreLogic Case-Shiller National Home Price NSA Index saw home prices decelerate, posting a 15.8% annual gain in July, down from 18.1% in the previous month. This is the largest monthly deceleration in the history of the index. “Although U.S. housing prices remain substantially above their year-ago levels, July’s report reflects a forceful deceleration,” said Craig J. Lazzara, Managing Director at S&P DJI. The 10-City Composite reported a 14.9% increase YOY, down from 17.4% in June, while the 20-City Composite rose by 16.1% YOY, down from 18.7%. July’s gains were less than June’s for each of the 20 cities analyzed. Tampa…
Annual home price appreciation dipped slightly in April, the first decline in months and a sign that the housing market is finally pumping the brakes. The S&P CoreLogic Case-Shiller Index, which measures average home prices, found that home prices rose by 20.4% YOY, decelerating from March’s read of 20.6%. Though it’s not a drastic fall, the numbers suggest that rising mortgage rates and increasing costs associated with buying a home are deterring buyers. The last time prices decelerated was in November of 2021. “April 2022 showed initial (although inconsistent) signs of a deceleration in the growth rate of U.S. home prices,” said Craig Lazzara, managing director at S&P DJI. “We continue to observe very broad strength in the housing market,…
