Home Prices Rose 6.4% in February, Says Case-Shiller

New York, NY, April 30, 2024-The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.4% annual gain for February, up from a 6.0% rise in the previous month. 

The Ten-City Composite showed an increase of 8.0%, up from a 7.4% increase in the previous month. The 20-City Composite posted a year-over-year increase of 7.3%, up from a 6.6% increase in the previous month. San Diego continued to report the highest year-over-year gain among the 20 cities with an 11.4% increase in February, followed by Chicago and Detroit, with increases of 8.9%. Portland, while still holding the lowest rank after reporting two consecutive months of the smallest year-over-year growth, had a significant annual increase of 2.2% in February.

The U.S. National Index, the 20-City Composite, and the Ten-City Composite all rose for the first time since October 2023, showing pre-seasonality adjustment increases of 0.6%, 0.9% and 1.0%, respectively.

After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.4%, while the 20-City and the Ten-City Composite both reported month-over-month increases of 0.6%.