Home Prices Made a 5.5% Gain in December, Says Case-Shiller

New York, NY, February 27, 2024-Home prices made a 5.5% annual gain in December, up from a 5.0% rise in the previous month, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions. 

The Ten-City Composite showed an increase of 7.0%, up from a 6.3% increase in the previous month. The 20-City Composite posted a year-over-year increase of 6.1%, up from a 5.4% increase in the previous month. San Diego reported the highest year-over-year gain among the 20 cities with an 8.8% increase in December, followed by Los Angeles and Detroit, each with an 8.3% increase. Portland showed a 0.3% increase this month, holding the lowest rank after reporting the smallest year-over-year growth.

The U.S. National Index showed a continued decrease of 0.4%, while the 20-City Composite and Ten-City Composite posted 0.3% and 0.2% month-over-month decreases respectively in December.

After seasonal adjustment, the U.S. National Index, the 20-City Composite, and the 10-City Composite all posted month-over-month increases of 0.2%.