Home Prices Rose by 4.2% in August, Says Case-Shiller
New York, NY, October 29, 2024-Home prices made a 4.2% annual gain for August, down from a 4.8% annual gain in the previous month, reported the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions.
The Ten-City Composite saw an annual increase of 6.0%, down from a 6.8% annual increase in the previous month. The 20-City Composite posted a year-over-year increase of 5.2%, dropping from a 5.9% increase in the previous month. New York again reported the highest annual gain among the 20 cities with an 8.1% increase in August, followed by Las Vegas and Chicago with annual increases of 7.3% and 7.2%, respectively. Denver posted the smallest year-over-year growth of 0.7%.
The pre-seasonally adjusted U.S. National Index, 20-City Composite, and 10-City Composite upward trends reversed in August, with a -0.1% drop for the national index, and the 20-City and Ten-City Composites saw -0.3% and -0.4% returns for this month, respectively. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.3%, while the 20 City and Ten-City Composite reported a monthly rise of 0.4% and 0.3%, respectively.