Home Prices Rose 3.2% in August, Says Case-Shiller
New York, NY, October 29, 2019-Home prices recorded a 3.2% annual gain in August, up from 3.1% 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 1.5%, down from 1.6% in the previous month.
The 20-City Composite posted a 2.0% year-over-year gain, no change from the previous month.
Phoenix, Arizona; Charlotte, North Carolina; and Tampa, Florida reported the highest year-over-year gains among the 20 cities. In August, Phoenix led the way with a 6.3% year-over-year price increase, followed by Charlotte with a 4.5% increase and Tampa with a 4.3% increase. Seven of the 20 cities reported greater price increases in the year ending August 2019 versus the year ending July 2019.
Before seasonal adjustment, the National Index posted a month-over-month increase of 0.2% in August. The Ten-City and 20-City Composites did not post any gains for the month. After seasonal adjustment, the National Index recorded a 0.3% month-over-month increase in August. The Ten-City Composite posted a 0.1% decrease and the 20-City Composite posted a 0.2% decrease. In August, 11 of 20 cities reported increases both before seasonal adjustment while 17 of 20 cities reported increases after seasonal adjustment.