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Thursday, September 19, 2019
HomeNewsEconomyS&P Corelogic Case-Shiller HPI Posts Slower Gains for Home Prices in April

S&P Corelogic Case-Shiller HPI Posts Slower Gains for Home Prices in April

Real estate market with price tags above home properties to illustrate house prices in 3D abstract. (Photo: AdobeStock)
Real estate market with price tags above home properties to illustrate house prices in 3D abstract. (Photo: AdobeStock)
Real estate market with price tags above home properties to illustrate house prices in 3D abstract. (Photo: AdobeStock)

The S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI) covering all nine U.S. census divisions continues to show slower gains in home prices in April.

The S&P CoreLogic Case-Shiller HPI (NSA) reported a 3.5% annual gain in April, down from 3.7% in March. The 10-City Composite annual gain came in at 2.3%, up from 2.2%. The 20-City Composite gained 2.5% year-over-year, down from 2.6%.

IndicatorPriorRevisedConsensus ForecastForecast RangeResult
HPI 20-city, SA – M/M ∆0.1 %0.3%0.2 %0.0 % to 0.2 %0.0%
HPI 20-city, NSA – M/M ∆0.7 %0.5 %0.2 % to 0.7 %0.8%
HPI 20-city, NSA – Yr/Yr ∆2.7 %2.6%2.6 %2.2 % to 2.6 %2.5%

“Home price gains continued in a trend of broad-based moderation,” says Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices. “Year-over-year price gains remain positive in most cities, though at diminishing rates of change. Seattle is a notable exception, where the YOY change has decreased from 13.1% in April 2018 to 0.0% in April 2019.”

Las Vegas, Phoenix and Tampa reported the highest year-over-year gains. In April, Las Vegas led with a 7.1% year-over-year price gain, followed closely by Phoenix at 6.0%, and Tampa at 5.6%.

Still, 9 of the 20 cities saw greater price increases in the year ending April 2019 versus the year ending March 2019.

Worth noting, the FHFA House Price Index (HPI) was up 0.4% in April juxtaposed to a 0.1% gain in March, and the year-over-year rose from 5.0% to 5.2%. The two HPIs have typically mirrored each other.

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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