Home Prices Rose 6% in January, Says Case-Shller

New York, NY, March 26, 2024-Home prices made a 6.0% annual gain in January, up from a 5.6% rise 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 7.4%, up from a 7.0% increase in the previous month. The 20-City Composite posted a year-over-year increase of 6.6%, up from a 6.2% increase in the previous month. San Diego again reported the highest year-over-year gain among the 20 cities with an 11.2% increase in January, followed by Los Angeles, with an increase of 8.6%. Portland, though holding the lowest rank after reporting the smallest year-over-year growth, retained an upward trend with a 0.9% increase this month.

The U.S. National Index and the 20-City Composite showed a continued decrease of 0.1%, and Ten-City Composite remained unchanged in January.

After seasonal adjustment, the U.S. National Index, the 20-City Composite, and the Ten-City Composite all posted month-over-month increases of 0.4%, 0.1%, and 0.2% respectively.