by Calculated Threat on 11/26/2024 09:00:00 AM
S&P/Case-Shiller launched the month-to-month Residence Worth Indices for September (“September” is a 3-month common of July, August and September closing costs).
This launch consists of 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 Data 3.9% Annual Acquire in September 2024
The S&P CoreLogic Case-Shiller U.S. Nationwide Residence Worth NSA Index, overlaying all 9 U.S. census divisions, reported a 3.9% annual return for September, down from a 4.3% annual achieve within the earlier
month. The ten-Metropolis Composite noticed an annual enhance of 5.2%, down from a 6.0% annual enhance in
the earlier month. The 20-Metropolis Composite posted a year-over-year enhance of 4.6%, dropping from a
5.2% enhance within the earlier month. New York once more reported the very best annual achieve among the many 20
cities with a 7.5% enhance in September, adopted by Cleveland and Chicago with annual will increase of
7.1% and 6.9%, respectively. Denver posted the smallest year-over-year progress with 0.2%.
…
The pre-seasonally adjusted U.S. Nationwide Index, 20-Metropolis Composite, and 10-Metropolis Composite upward
tendencies continued to reverse in September, with a -0.1% drop for the nationwide index, and the 20-Metropolis and
10-Metropolis Composites noticed -0.3% and -0.4% returns for this month, respectively.After seasonal adjustment, the U.S. Nationwide Index posted a month-over-month enhance of 0.3%, whereas
the 20-Metropolis and 10-Metropolis Composite reported month-to-month rises of 0.2% and 0.1%, respectively.“Home price growth stalled in the third quarter, after a steady start to 2024,” says Brian D. Luke, CFA,
Head of Commodities, Actual & Digital Property. “The slight downtick might be attributed to technical
elements because the seasonally adjusted figures boasted a sixteenth consecutive all-time excessive.“We proceed to see above-trend worth progress within the Northeast and Midwest, rising 5.7% and 5.4%,
respectively, led by New York, Cleveland, and Chicago,” Luke continued. “The Massive Apple has taken the
prime spot for 5 consecutive months, pushing the area forward of all others since August 2023. The
South area reported its slowest progress in over a yr, rising 2.8%, barely above present inflation
ranges.”
emphasis added
Click on on graph for bigger picture.
The primary graph reveals 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 0.1% in September (SA). The Composite 20 index was up 0.2% (SA) in September.
The Nationwide index was up 0.3% (SA) in September.
The second graph reveals the year-over-year change in all three indices.
The Composite 10 SA was up 5.2% year-over-year. The Composite 20 SA was up 4.6% year-over-year.
The Nationwide index SA was up 3.9% year-over-year.
Annual worth adjustments have been near expectations. I will have extra later.
