S&P Cotality Case-Shiller Index Reports 1.5% Annual Gain in US Home Prices in August

On Tuesday, S&P Dow Jones Indices (S&P DJI) released the S&P Cotality Case-Shiller US National Home Price NSA Index, formerly known as the S&P CoreLogic Case-Shiller Indices. Year-over-year, the Index posted a 1.5% gain in August, down from a 1.6% rise in July.

The 10-City Composite increased 2.1% year-over-year, easing from 2.3% in July. The 20-City Composite rose 1.6%, compared with a 2.2% increase in the prior month.

Among the 20 cities, New York recorded the largest annual increase at 6.1%, followed by Chicago at 5.9% and Cleveland at 4.7%. These Midwest and Northeast markets, which saw modest gains during the pandemic, continue to outperform. Tampa posted the largest annual decline, down 3.3%, while Phoenix and Miami each declined 1.7%.

Before seasonal adjustment, the US National Index fell 0.3% month-over-month, while both the 10-City and 20-City Composites declined 0.6%. After seasonal adjustment, all three indices rose 0.2% month-over-month.