S&P CoreLogic Case-Shiller US Home Price Index Posts Annual Gain in February

On Tuesday (4-25-23), S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for February. The Index, which covers all nine US Census divisions, reported that home prices experienced a 2.0% annual gain in February. This is down from a 3.7% annual gain in January and a 5.6% annual gain in December.

In February, the 10-City Composite annual increase came in at 0.4%, down from 2.5% in January. The 20-City Composite posted a 0.4% year-over-year increase, down from 2.6% in the previous month.

Miami, Tampa, and Atlanta again reported the highest year-over-year gains among the 20 cities in February. Miami led the way with a 10.8% year-over-year price increase, followed by Tampa in second place with a 7.7% increase. All 20 cities reported lower price increases in the year ending in February versus the year ending in January.

Before seasonal adjustment, the US National Index posted a 0.2% month-over-month increase in February, while the 10-City and 20-City Composites posted increases of 0.3% and 0.2% respectively.

After seasonal adjustment, the US National Index posted a month-over-month increase of 0.2%, while both the 10-City and 20-City Composites posted increases of 0.1%.