US Home Price Gains Continued to Slow in May 2022

On Tuesday (7-27-22), S&P CoreLogic Case-Shiller released its US National Home Price NSA Index for May. The Index, which covers all nine US Census divisions, reported that home prices experienced a 19.7% annual gain in May—down from 20.6% annual gain in April. This is the second consecutive month of home price deceleration.

The 10-City Composite annual increase came in at 19.0%, down from 19.6% in the previous month. The 20-City Composite posted a year-over-year gain of 20.5% in May, down from 21.2 % in April of 2022.

The highest year-over-year gain among the top 20 cities in May was led by Tampa at 36.1%, followed by Miami with a 34.0% increase and Dallas with a 30.8% increase. Four of the 20 cities reported higher price increases in the year ending May 2022 versus the year ending April 2022.

Before seasonal adjustment, the US National Index posted a 1.5% month-over-month increase in May, while the 10-City and 20-City Composites posted increases of 1.4% and 1.5%, respectively. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.0%, and the 10-City and 20-City Composites both posted increases of 1.3%. In May, all 20 cities reported increases before and after seasonal adjustments

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.
Original Source: