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Sunday, September 22, 2019
HomeNewsEconomyS&P Corelogic Case-Shiller HPI Inches Higher in May

S&P Corelogic Case-Shiller HPI Inches Higher in May

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

“Broad-Based Moderation Continues” in Home Prices

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 Home Price Index (HPI) posted a 3.4% annual gain in May, down from 3.5% the previous month.

The 10-City Composite annual increase came in at 2.2%, down from 2.3% in April. The 20-City Composite reported a 2.4% year-over-year gain, down from 2.5%.

PriorConsensus ForecastForecast RangeResult
20-city, SA – M/M0.0%0.2%0.2% to 0.3%0.1%
20-city, NSA – M/M0.8%0.6%0.5% to 0.6%0.6%
20-city, NSA – Yr/Yr2.5%2.4%2.3% to 3.5%2.4%

“Nationally, year-over-year home price gains were lower in May than in April, but not dramatically so and a broad-based moderation continued,” says Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices.

“Among 20 major U.S. city home price indices, the average YOY gain has been declining for the past year or so and now stands at the moderate nominal YOY rate of 3.1%.”

Las Vegas, Phoenix and Tampa posted the highest year-over-year increases. In May, Las Vegas led with a 6.4% year-over-year price gain, followed closely by Phoenix at 5.7%, and Tampa at 5.1%.

Seven (7) of the 20 cities posted larger price gains in the year ending May 2019 versus the year ending April 2019.

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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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