by Calculated Risk July 30, 2024, 10:18 AM
Today’s Calculated Risk Real Estate Newsletter: Case-Shiller: National home price index rose 5.9% year over year in May. FHFA home price index was flat in May and up 5.7% year over year
excerpt:
S&P/Case-Shiller release Monthly Home Price Index for May (“May” is the three-month average of closing prices for March, April and May). There is a significant lag in this data as the May closing price includes contracts signed in January. Below is a graph of the Month-over-Month (MoM) change in the Seasonally Adjusted (SA) Case-Shiller National Index.
The seasonally adjusted (SA) Case-Shiller National Index increased 0.25% month-on-month, the 16th consecutive month of month-on-month increase, but tied December for the smallest month-on-month increase in the past 15 months.
On a seasonally adjusted basis, prices increased month-over-month in 17 of the 20 cities in the Case-Shiller index. On a seasonally adjusted basis, prices in San Francisco were down 7.5% from their recent peak, Seattle was down 5.4% from their peak, Portland was down 4.3%, and Phoenix was down 4.3%.
