by Calculated Risk May 28, 2024 9:50 AM
Today’s Calculated Risk Real Estate Newsletter: Case-Shiller: National home price index rose 6.5% year over year in March. FHFA: Home prices rose 0.1% in March and are up 6.6% year over year.
excerpt:
S&P/Case-Shiller release Monthly Home Price Index for March (“March” is the three-month average of closing prices for January, February and March). There is a significant lag in this data as the March closing prices include contracts signed in November. 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 0.30% month-on-month, the 14th consecutive month of month-on-month increases, but the month-on-month increase was smaller than the previous two months.
On a seasonally adjusted basis, prices increased month-over-month in 15 of the 20 cities in the Case-Shiller index. On a seasonally adjusted basis, prices in San Francisco were down 8.2% from their recent peak, Seattle was down 6.0% from their peak, Portland was down 4.0%, and Phoenix was down 3.1%.
