Home Prices Rose 3.9% in January, Says Case-Shiller
New York, NY, March 31, 2020-Home prices made a 3.9% annual gain in January, up 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 2.6%, up from 2.3% in the previous month. The 20-City Composite posted a 3.1% year-over-year gain, up from 2.8% in the previous month.
Phoenix, Seattle and Tampa reported the highest year-over-year gains among the 20 cities. In January, Phoenix led the way with a 6.9% year-over-year price increase, followed by 5.1% increases in Seattle and Tampa. Fourteen of the 20 cities reported higher price increases in the year ending January 2020 versus the year ending December 2019.
The National Index and 20-City Composite were flat month-over-month, while the Ten-City Composite posted a 0.1% decrease before seasonal adjustment in January. After seasonal adjustment, the National Index posted a month-over-month increase of 0.5%, while the Ten-City and 20-City Composites both posted 0.3% increases. In January, ten of 20 cities reported increases before seasonal adjustment while 18 of 20 cities reported increases after seasonal adjustment.