S&P CoreLogic Case-Shiller US Home Price Index Declined Again in January
On Tuesday (3-28-23), S&P Dow Jones Indices released its latest S&P CoreLogic Case-Shiller US National Home Price NSA Index. The Index, which covers all nine US Census divisions, reported that home prices experienced a 3.8% annual gain in January. This is down from a 5.6% annual gain in December.
In January, the 10-City Composite annual increase came in at 2.5%, down from 4.4% in December. The 20-City Composite posted a 2.5% year-over-year increase, down from 4.6% in the previous month.
Miami, Tampa, and Atlanta reported the highest year-over-year gains among the 20 cities in January. Miami led the way with a 13.8% year-over-year price increase, followed by Tampa in second with a 10.5% increase and Atlanta in third with an 8.4% increase. All 20 cities reported lower price increases in the year ending in January versus the year ending in December 2022.
Before seasonal adjustment, the US National Index posted a 0.5% month-over-month decline in January, while both the 10-City and 20-City Composites posted decreases of 0.5% and 0.6%, respectively. After seasonal adjustment, the US National Index posted a month-over-month decline of 0.2%, while both the 10-City and 20-City Composites posted declines of 0.4%.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.