Home Prices Rose 2.0% in February, Says Case-Shiller
New York, NY, April 25, 2023-Home prices made a 2.0% annual gain in February, down from 3.7% 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 0.4%, down from 2.5% in the previous month. The 20-City Composite posted a 0.4% year-over-year gain, down from 2.6% in the previous month.
Miami, Florida; Tampa, Florida; and Atlanta, Georgia again reported the highest year-over-year gains among the 20 cities in February. The order remained the same with Miami leading the way with a 10.8% year-over-year price increase, followed by Tampa in second with a 7.7% increase, and Atlanta in third with a 6.6% increase. All 20 cities reported lower prices in the year ending February 2023 versus the year ending January 2023.
Before seasonal adjustment, the U.S. National Index posted a 0.2% month-over-month increase in February, while the Ten-City and 20-City Composites posted increases of 0.3% and 0.2%, respectively.
After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.2%, while both the Ten-City and 20-City Composites posted increases of 0.1%.