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Housing Market: US: Difference between revisions
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* Before seasonal adjustment, the U.S. '''National Index posted a 1.2% month-over-month increase in May''', while the 10-City and 20-City Composites both posted increases of 1.5%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.7%, while the 10-City Composite gained 1.1% and 20-City Composites posted an increase of 1.0%. | * Before seasonal adjustment, the U.S. '''National Index posted a 1.2% month-over-month increase in May''', while the 10-City and 20-City Composites both posted increases of 1.5%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.7%, while the 10-City Composite gained 1.1% and 20-City Composites posted an increase of 1.0%. | ||
* The S&P CoreLogic Case-Shiller U.S. '''National Home Price NSA Index, reported a -0.5% annual decrease in May''', down from a loss of -0.1% in the previous month. The 10-City Composite showed a decrease of -1.0%, which is a tick up from the -1.1% decrease in the previous month. The 20-City Composite posted a -1.7% year-over-year loss, same as in the previous month. | * The S&P CoreLogic Case-Shiller U.S. '''National Home Price NSA Index, reported a -0.5% annual decrease in May''', down from a loss of -0.1% in the previous month. The 10-City Composite showed a decrease of -1.0%, which is a tick up from the -1.1% decrease in the previous month. The 20-City Composite posted a -1.7% year-over-year loss, same as in the previous month. | ||
=== June 2023 === | |||
“June is the fifth consecutive month in which home prices have increased across the U.S. With 2023 half over, the National Composite has risen 4.7%, which is slightly above the median full calendar year increase in more than 35 years of data. We recognize that the market’s gains could be truncated by increases in mortgage rates or by general economic weakness, but the breadth and strength of this month’s report are consistent with an optimistic view of future results.” | |||
* Before seasonal adjustment, the U.S. '''National Index posted a 0.9% month-over-month increase in June''', while the 10-City and 20-City Composites also posted like increases of 0.9%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.7%, while the 10-City and 20-City Composites both posted increases of 0.9%. | |||
* The S&P CoreLogic Case-Shiller U.S. '''National Home Price NSA Index, covering all nine U.S. census divisions, reported 0.0% annual change in June, up from a loss of -0.4% in the previous mont'''h. The 10- City Composite showed a decrease of -0.5%, which is an improvement on the -1.1% decrease in the previous month. The 20-City Composite posted a year-over-year loss of -1.2%, up from -1.7% in the previous month. | |||
* Regional differences continue to be striking. On a year-over-year basis, June’s three best-performing cities were Chicago (+4.2%), Cleveland (+4.1%), and New York (+3.4%). At the other end of the scale, the worst performers continue to be in the Pacific and Mountain time zones, with San Francisco (-9.7%) and Seattle (-8.8%) at the bottom. The Midwest (+2.8%) continues as the nation’s strongest region, followed this month by the Northeast (+1.6%). The West (-5.9%) remains the weakest region. | |||
== Rent Developments == | == Rent Developments == | ||