Home Prices Rose 5.4% YOY in June, Says Case-Shiller

New York, August 27, 2024-The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.4% annual gain for June, down from a 5.9% annual gain in the previous month.

The Ten-City Composite saw an annual increase of 7.4%, down from a 7.8% annual increase in the previous month. The 20-City Composite posted a year-over-year increase of 6.5%, dropping from a 6.9% increase in the previous month. New York reported the highest annual gain among the 20 cities with a 9.0% increase in June, followed by San Diego and Las Vegas with annual increases of 8.7% and 8.5%, respectively. Portland once again held the lowest rank for the smallest year-over-year growth, notching a 0.8% annual increase in June.

The U.S. National Index, the 20-City Composite, and the Ten-City Composite upward trends continued to decelerate from last month, with pre-seasonality adjustment increases of 0.5%, 0.6%, and 0.6%, respectively.

After seasonal adjustment, the U.S. National Index posted a month-over-month change of 0.2%, while the 20-City and Ten-City Composite reported a monthly change of 0.4% and 0.5%, respectively.