Housing Market: US: Difference between revisions

Housing Market: US (view source)

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→‎House Price Developments

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 == House Price Developments ==
-[[File:Screenshot 2023-08-29 105903.png|alt=|center|thumb|841x841px|https://fred.stlouisfed.org/series/CSUSHPINSA]]'''Y/Y Change'''
+[[File:Screenshot 2023-09-26 095757.png|alt=|center|thumb|841x841px|https://fred.stlouisfed.org/series/CSUSHPINSA]]
+'''Y/Y Change'''
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 * 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.
+=== July 2023 ===
+"We have previously noted that home prices peaked in June 2022 and fell through January of 2023, declining by 5.0% in those seven months. The increase in prices that began in January has now erased the earlier decline, so that July represents a new all-time high for the National Composite. Moreover, this recovery in home prices is broadly based. As was the case last month, 10 of the 20 cities in our sample have reached all-time high levels. In July, prices rose in all 20 cities after seasonal adjustment (and in 19 of them before adjustment).
+* '''Before seasonal adjustment, the U.S. National Index,10-City and 20-City Composites, all posted a 0.6% month-over-month increase in July.''' After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.6%, while the 10-City posted a  0.8% increase and 20-City Composite a 0.9% increase.
+* The S&P CoreLogic Case-Shiller '''U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported 1.0% annual change in July, up from a 0% change in the previous month.''' The 10-City Composite showed an increase of 0.9%, which improves from a -0.5% loss in the previous month. The 20-City Composite posted a year-over-year increase of 0.1%, improving from a loss of -1.2% in the previous month.
+* For this month, 8 of 20 cities reported lower prices and 12 of 20 reported higher prices in the year ending July 2023 versus the year ending June 2023. 18 out of the 20 cities, show a positive trend in price acceleration compared to their prior month.
 == Affortability ==