Home Prices Rose 13% YOY in August, Says Case-Shiller
New York, NY, October 25, 2022-Home prices made a 13.0% annual gain in August, down from 15.6% in the previous month, according to The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions.
The Ten-City Composite annual increase came in at 12.1%, down from 14.9% in the previous month.
The 20-City Composite posted a 13.1% year-over-year gain, down from 16.0% in the previous month.
Miami, Florida; Tampa, Florida; and Charlotte, North Carolina reported the highest year-over-year gains among the 20 cities in August. Miami led the way with a 28.6% year-over-year price increase, followed by Tampa in second with a 28.0% increase, and Charlotte in third with a 21.3% increase. All 20 cities reported lower price increases in the year ending August 2022 versus the year ending July 2022.
Before seasonal adjustment, the U.S. National Index posted a -1.1% month-over-month decrease in August, while the Ten-City and 20-City Composites both posted decreases of -1.6%.
After seasonal adjustment, the U.S. National Index posted a month-over-month decrease of -0.9%, and the Ten-City and 20-City Composites both posted decreases of -1.3%.
In August, all 20 cities reported declines before and after seasonal adjustments.