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

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 June, up from a 1.2% gain in May.

S&P reported that for the 13th consecutive month, home values fell in real terms, as June’s 3.5% inflation rate ran roughly 2 percentage points above the 1.5% home price gain.

The 10-City Composite rose 2.9% annually, compared with a 2.4% increase in May. The 20-City Composite advanced 2.1%, up from a 1.6% rise the prior month.

Among the 20 cities, Chicago recorded the largest annual increase at 6.9%, followed by New York (4.8%) and Cleveland (4.1%). Seattle registered the weakest return with a 2.0% decline.

Before seasonal adjustment, the US National Index rose 0.4% month-over-month. The 10-City Composite rose 0.5%, and the 20-City Composite increased 0.4%.

After seasonal adjustment, the National Index rose 0.1% month-over-month, while the 10-City Composite increased 0.3% and the 20-City Composite rose 0.2%.