Home Prices Rose 3.2% YOY in July, Says Case-Shiller
New York, NY, September 24, 2019-Home prices posted a 3.2% annual gain in July, remaining the same from 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 1.6%, down from 1.9% in the previous month. The 20-City Composite posted a 2.0% year-over-year gain, down from 2.2% in the previous month.
Phoenix, Arizona; Las Vegas, Nevada; and Charlotte, North Carolina reported the highest year-over-year gains among the 20 cities. In July, Phoenix led the way with a 5.8% year-over-year price increase, followed by Las Vegas with a 4.7% increase, and Charlotte with a 4.6% increase. Seven of the 20 cities reported greater price increases in the year ending July 2019 versus the year ending June 2019.
Before seasonal adjustment, the National Index posted a month-over-month increase of 0.4% in July. The Ten-City Composite remained flat and the 20-City Composite reported a 0.1% increase for the month. After seasonal adjustment, the National Index recorded a 0.1% month-over-month increase in July. The Ten-City Composite posted a 0.1% decrease and the 20-City Composite did not report any gains. In July, 15 of 20 cities reported increases both before and after seasonal adjustment.