by Calculated Risk September 24, 2024 9:58 AM
Today’s Calculated Risk Real Estate Newsletter: Case-Shiller: National home price index rose 5.0% year-over-year in July
excerpt:
S&P/Case-Shiller released their monthly home price index for July (“July” is the three-month average of closing prices for May, June, and July). This data has a significant lag as the July closing prices include some contracts that were signed in March. 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 0.18% (2.2% annualized) for the second consecutive month, marking the 18th consecutive month of month-on-month increases. This tied the smallest month-over-month increase in the past 18 months.
On a seasonally adjusted basis, prices increased month-over-month in 18 of the 20 cities in the Case-Shiller index. On a seasonally adjusted basis, prices in San Francisco were down 7.1% from their recent peak, Phoenix was down 4.2% from their peak, Portland was down 3.1%, and Seattle and Denver were both down 2.9%.
