Home Prices Rose 4.0% YOY in February, Says Case-Shiller
New York, NY, April 30, 2019-Home prices made a 4.0% annual gain in February, down from 4.2% 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%, down from 3.1% in the previous month. The 20-City Composite posted a 3.0% year-over-year gain, down from 3.5% in the previous month.
Las Vegas, Phoenix and Tampa reported the highest year-over-year gains among the 20 cities. In February, Las Vegas led the way with a 9.7% year-over-year price increase, followed by Phoenix with a 6.7% increase, and Tampa with a 5.4% increase. Only one of the 20 cities reported greater price increases in the year ending February 2019 versus the year ending January 2019.
Month over month, before seasonal adjustment, the National Index posted a month-over-month increase of 0.2% in February. The Ten-City and 20-City Composites both reported 0.2% increases for the month. After seasonal adjustment, the National Index recorded a 0.3% month-over-month increase in February. The Ten-City and the 20-City Composites both posted 0.2% month-over-month increases. In February, 14 of 20 cities reported increases before seasonal adjustment, while 17 of 20 cities reported increases after seasonal adjustment.