The S&P CoreLogic Case-Shiller Indices posted an annual decline in home prices for the second straight month in May while the Housing Price Index provided by the Federal Housing Finance Agency (FHFA) continues to show annual appreciation . Case-Shiller’s National Home Price Index, which covers all nine U.S. census divisions, was down 0.5 percent compared to a loss of 0.1 percent in April. The 1.0 decline in the 10-City Composite was a slight improvement from -1.1 percent the previous month. The 20-City Composite was unchanged from April’s 1.7 percent year-over-year loss. Month-over-month, however, prices were ascendent, Before seasonal adjustment, the National Index posted a 1.2 percent month-over-month increase and was up 0.7 percent after seasonal adjustment. in May. Both the 10-City and 20-City Composites rose 1.5 percent on an unadjusted basis while the 10-City Composite gained 1.1 percent and 20-City Composite 1.0 percent after adjustment. Chicago, Cleveland, and New York reported the highest year-over-year gains among the 20 cities in May. Chicago moved up one to the top spot with a 4.6 percent year-over-year price increase, while Cleveland was number two at 3.9 percent. New York debuted in the top three with a 3.5 percent increase. There was an even split of 10 cities reporting lower prices and those reporting higher prices in the year ending May 2023 versus the year ending April 2023.
Related Articles
86% of Metro Areas Posted Home Price Gains in Q4 2023
February 9, 2024
Mariel Alumit
Weely Real Estate News
Comments Off on 86% of Metro Areas Posted Home Price Gains in Q4 2023
The prices on single-family existing home sales during the fourth quarter of 2023 were up in 86% of the nation’s metro markets, according to new data from the National Association of Realtors (NAR), which noted […]
Home-price growth continued to slow to start 2023
March 29, 2023
Mark Paul Cervantes
Housing Wire
Comments Off on Home-price growth continued to slow to start 2023
Home prices continued to cool at the start of the year, falling to a 3.8% annual price growth rate in January, according to the S&P CoreLogic Case-Shiller National Home Price Index, released Tuesday. The annual growth rate in […]
California’s Median Home Price Back Above $800K
May 22, 2023
Mark Paul Cervantes
Weely Real Estate News
Comments Off on California’s Median Home Price Back Above $800K
While prices remained elevated, sales activity was enervated. The post California’s Median Home Price Back Above $800K appeared first on Weekly Real Estate News.