by Calculated Threat on 4/30/2024 09:00:00 AM
S&P/Case-Shiller launched the month-to-month Residence Value Indices for February (“February” is a 3-month common of December, January and February closing costs).
This launch contains costs for 20 particular person cities, two composite indices (for 10 cities and 20 cities) and the month-to-month Nationwide index.
From S&P S&P CoreLogic Case-Shiller Index’s Upward Pattern Persists in February 2024
The S&P CoreLogic Case-Shiller U.S. Nationwide Residence Value NSA Index, overlaying all 9 U.S. census divisions, reported a 6.4% annual achieve in February, up from a 6.0% rise within the earlier month. The ten-
Metropolis Composite confirmed a rise of 8.0%, up from a 7.4% enhance within the earlier month. The 20-
Metropolis Composite posted a year-over-year enhance of seven.3%, up from a 6.6% enhance within the earlier
month. San Diego continued to report the very best year-over-year achieve among the many 20 cities with an
11.4% enhance in February, adopted by Chicago and Detroit , with a rise of 8.9%. Portland,
although nonetheless holding the bottom rank after reporting two consecutive months of the smallest year-over-year progress, had a major enhance in annual achieve of two.2% in February.
…
The U.S. Nationwide Index, the 20-Metropolis Composite, and the 10-Metropolis Composite, for the primary time since November 2023, confirmed a pre-seasonality adjustment enhance of 0.6%, 0.9% and 1.0% respectively.After seasonal adjustment, the U.S. Nationwide Index posted a month-over-month enhance of 0.4%, whereas the 20-Metropolis and the 10-Metropolis Composite each reported month-over-month will increase of 0.6%.
“U.S. home prices continued their drive higher,” says Brian D. Luke, Head of Commodities, Actual &
Digital Property at S&P Dow Jones Indices. “Our Nationwide Composite rose by 6% in January, the quickest
annual charge since 2022. Stronger features got here from our 10- and 20-Metropolis Composite indices, rising 7.4%
and 6.6%, respectively. For the second consecutive month, all cities reported will increase in annual
costs, with San Diego surging 11.2%. On a seasonal adjusted foundation, house costs have continued to
break by way of earlier all-time highs set final 12 months”
emphasis added
Click on on graph for bigger picture.
The primary graph exhibits the nominal seasonally adjusted Composite 10, Composite 20 and Nationwide indices (the Composite 20 was began in January 2000).
The Composite 10 index was up 0.6% in February (SA). The Composite 20 index was up 0.6% (SA) in February.
The Nationwide index was up 0.4% (SA) in February.
The second graph exhibits the year-over-year change in all three indices.
The Composite 10 SA was up 8.0% year-over-year. The Composite 20 SA was up 7.3% year-over-year.
The Nationwide index SA was up 6.4% year-over-year.
Annual worth adjustments have been above expectations. I am going to have extra later.
