S&P CoreLogic Case-Shiller US Home Price Index Reports 6.0% Annual Gain in January

On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for January. The Index, which covers all nine census divisions, revealed that 3 out of the 20 major metro markets reported month-over-month price increases.

Year-over-year, the Index saw a gain of 6.0% in January, up from 5.5% in December 2023. The 10-City Composite posted a 7.4% increase, up from a 7.0% increase in December. The 20-City Composite posted a year-over-year increase of 6.6%, up from a 6.1 % increase December.

San Diego reported the highest year-over-year gain among the 20 cities with an 11.2% increase in January, followed by Los Angeles with an 8.6% increase. Portland, though holding the lowest rank after reporting the smallest year-over-year growth, retained an upward trend with a 0.9% increase.

The US National Index and the 20-City Composite showed a continued decrease of 0.1%, and the 10-City Composite remained unchanged in January.

After seasonal adjustment, the US National Index, the 20-City Composite, and the 10-City Composite saw month-over-month increases of 0.4%, 0.1%, and 0.2%, respectively.