S&P CoreLogic Case-Shiller US Home Price NSA Index Continues Upward Trek in October

On Tuesday (12-26-2023), S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for October. The Index, which covers all nine U.S. Census divisions, shows 11 of the 20 major metro markets reported month-over-month increases.

Year-over-year, the Index covering all nine U.S. census divisions reported an annual gain of 4.8% in October, up from a 4.0% in September, and up from an annual gain of 2.5% posted in August. The 10-City Composite posted a 5.7% increase in October, up from 4.8% in September, and up from a 3.0% increase reported in August. The 20-city composite posted a year-over-year increase of 4.9% in October, up from 3.9% in September, and up from a 2.1% increase in August.

For the second consecutive month Detroit Michigan led the way, with an 8.1% year-over-year gain in October, followed by San Diego with a 7.2% increase. Portland, Oregon reported a decline of 0.6% and remained the only city reporting lower prices in October than a year ago.

Before seasonal adjustment, the U.S. National Index, 10-City Composite, posted a 0.2% month-over-month increase in October, while the 20-City Composite posted a 0.1.% month-over-month increase.

After seasonal adjustment, the U.S. National Index posted a month-over-month increase 0.6%, in both the 10-City, and 20-City Composites.