September Home Prices Declined from August, Case-Shiller
New York, NY, November 29, 2022--The S&P CoreLogic Case-Shiller National Home Price Index, which measures home prices across the nation, fell 1% in September from August. Over the past three months, the index is down 2.6%.
Home prices made a 10.6% annual gain in September, down from 12.9% in the previous month, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported.
The Ten-City Composite annual increase came in at 9.7%, down from 12.1% in the previous month. The 20-City Composite posted a 10.4% year-over-year gain, down from 13.1% in the previous month.
Miami, Florida; Tampa, Florida; and Charlotte, North Carolina reported the highest year-over-year gains among the 20 cities in September. Miami led the way with a 24.6% year-over-year price increase, followed by Tampa in second with a 23.8% increase, and Charlotte in third with a 17.8% increase. All 20 cities reported lower price increases in the year ending September 2022 versus the year ending August 2022.
Before seasonal adjustment, the U.S. National Index posted a -1.0% month-over-month decrease in September, while the Ten-City and 20-City Composites posted decreases of -1.4% and -1.5%, respectively.
After seasonal adjustment, the U.S. National Index posted a month-over-month decrease of -0.8%, and the Ten-City and 20-City Composites both posted decreases of -1.2%.