Home Prices Rose 3.9% in September, Says Case-Shiller

Washington, DC, November 28, 2023-Home prices made a 3.9% annual change in September, up from a 2.5% change 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 showed an increase of 4.8%, up from a 3.0% increase in the previous month. The 20-City Composite posted a year-over-year increase of 3.9%, up from a 2.1% increase in the previous month. Detroit surpassed Chicago, reporting the highest year-over-year gain among the 20 cities with an 6.7% increase in September, followed by San Diego with a 6.5% increase. Three of the 20 cities reported lower prices in September versus a year ago.

Before seasonal adjustment, the U.S. National Index, Ten-City and 20-City Composites, all posted 0.3% month-over-month increases in September, while the Ten-City and 20-City composites posted 0.3% and 0.2% increases, respectively.

After seasonal adjustment, the U.S. National Index, the Ten-City and 20-City Composites each posted month-over-month increases of 0.7%.