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Tuesday, November 19, 2019
HomeNewsEconomyS&P CoreLogic Case-Shiller HPI: Home Prices Held Firm in May

S&P CoreLogic Case-Shiller HPI: Home Prices Held Firm in May

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. (Photo: Reuters)
A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. (Photo: Reuters)

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. (Photo: Reuters)

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.4% annual gain in May, unchanged from the previous month.  The index covers all 9 U.S. census divisions.

The 10- City Composite annual increase came in at 6.1%, down from 6.4% in the previous month. The 20-City Composite posted a 6.5% year-over-year gain, down from 6.7% in the previous month.

“Home prices continue to rack up gains two to three times greater than the inflation rate,” says David M. Blitzer, Managing Director & Chairman of the Index Committee at S&P Dow Jones Indices. “The yearover-year increases in the S&P CoreLogic Case-Shiller National Index have topped 5% every month since August 2016.”

Seattle, Las Vegas, and San Francisco continued to report the highest year-over-year gains among the 20 cities.

In May, Seattle led the way with a 13.6% year-over-year price increase, followed by Las Vegas with a 12.6% increase and San Francisco with a 10.9% increase. Seven of the 20 cities reported greater price increases in the year ending May 2018 versus the year ending April 2018.

“Unlike the boom-bust period surrounding the financial crisis, price gains are consistent across the 20 cities tracked in the release; currently, the range of the largest to smallest price change is 10 percentage points compared to a 20 percentage point range since 2001, and a 25 percentage point range between 2006 and 2009,” Mr. Blitzer added.

“Not only are prices rising consistently, they are doing so across the country.”

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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