Home Prices Up 3.9% in September, Reports Case-Shiller

New York, NY, November 26, 2024--U.S. home prices recorded a 3.9% annual gain in September 2024, a slight deceleration from the previous annual gains in 2024, according to the S&P CoreLogic Case-Shiller Indices. 

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.9% annual return for September, down from a 4.3% annual gain in the previous month. The Ten-City Composite saw an annual increase of 5.2%, down from a 6.0% annual increase in the previous month. The 20-City Composite posted a year-over-year increase of 4.6%, dropping from a 5.2% increase in the previous month. New York again reported the highest annual gain among the 20 cities with a 7.5% increase in September, followed by Cleveland and Chicago with annual increases of 7.1% and 6.9%, respectively. Denver posted the smallest year-over-year growth with 0.2%.

The pre-seasonally adjusted U.S. National Index, 20-City Composite, and Ten-City Composite upward trends continued to reverse in September, 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 monthly rises of 0.2% and 0.1%, respectively.