News

In September, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index recorded a 3.9% annual gain, down from 4.3% in August. Similarly, the 10-City Composite saw an annual increase of 5.2% in September, a decrease from 6.0% the previous month, while the 20-City Composite rose 4.6% year-over-year, down from 5.2% in August. Among the 20 cities, New York again posted the highest annual gain at 7.5%, followed by Cleveland at 7.1% and Chicago at 6.9%. Denver had the lowest annual increase at 0.2%.

On a month-over-month basis, the U.S. National Index dropped 0.1% before seasonal adjustment but increased 0.3% after adjustment. The 20-City and 10-City Composites saw 0.3% and 0.4% decreases pre-adjustment, while posting 0.2% and 0.1% increases post-adjustment, respectively.

While home prices stalled in the third quarter, the slight downtick could be attributed to technical factors, since the seasonally adjusted figures exhibited a 16th consecutive all-time high. The Northeast and Midwest continue to display above-trend price growth, growing 5.7% and 5.4%, respectively, while the South reported its slowest growth in more than a year, rising 2.8%.