The S&P CoreLogic Case-Shiller 20-city home price index in the US fell 1.1% yoy in March 2023, the first decline since May 2012, and compared to forecasts of a 1.6% drop. Seattle (-12.4%), San Francisco (-11.2%) and San Diego (-5.3%) reported the biggest declines, while Miami (7.7%), Tampa (4.8%), and Charlotte (4.7%), replacing Atlanta in third place, saw the highest annual gains. Compared to February, prices in 20 cities jumped 1.5% and increased 1.3% nationally according to non-seasonally adjusted data, rising in all 20 cities (versus in 12 in February). “Two months of increasing prices do not a definitive recovery make, but March’s results suggest that the decline in home prices that began in June 2022 may have come to an end. That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months”, says Craig Lazzara, Managing Director at S&P DJI. source: Standard & Poor's

Case Shiller Home Price Index YoY in the United States averaged 5.27 percent from 2001 until 2023, reaching an all time high of 21.30 percent in April of 2022 and a record low of -19.00 percent in January of 2009. This page includes a chart with historical data for the United States Case Shiller Home Price Index YoY. United States Case Shiller Home Price Index YoY - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Case Shiller Home Price Index YoY in the United States is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Case Shiller Home Price Index YoY is projected to trend around 1.20 percent in 2024 and 2.00 percent in 2025, according to our econometric models.

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United States Case Shiller Home Price Index YoY



Calendar GMT Actual Previous Consensus TEForecast
2023-04-25 01:00 PM Feb 0.4% 2.6% 0% 1.3%
2023-05-30 01:00 PM Mar -1.1% 0.4% -1.6% -0.7%
2023-06-27 01:00 PM Apr -1.1%


Related Last Previous Unit Reference
Case Shiller Home Price Index YoY -1.10 0.40 percent Mar 2023
Case Shiller Home Price Index MoM 1.50 0.30 percent Mar 2023
Case Shiller Home Price Index 302.30 297.70 points Mar 2023

United States Case Shiller Home Price Index YoY
The S&P CoreLogic Case-Shiller 20-City Composite Home Price Index measures changes in residential house prices in 20 metropolitan regions in the United States: Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington D.C.
Actual Previous Highest Lowest Dates Unit Frequency
-1.10 0.40 21.30 -19.00 2001 - 2023 percent Monthly
NSA

News Stream
US House Prices Fall for 1st Time since 2012
The S&P CoreLogic Case-Shiller 20-city home price index in the US fell 1.1% yoy in March 2023, the first decline since May 2012, and compared to forecasts of a 1.6% drop. Seattle (-12.4%), San Francisco (-11.2%) and San Diego (-5.3%) reported the biggest declines, while Miami (7.7%), Tampa (4.8%), and Charlotte (4.7%), replacing Atlanta in third place, saw the highest annual gains. Compared to February, prices in 20 cities jumped 1.5% and increased 1.3% nationally according to non-seasonally adjusted data, rising in all 20 cities (versus in 12 in February). “Two months of increasing prices do not a definitive recovery make, but March’s results suggest that the decline in home prices that began in June 2022 may have come to an end. That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months”, says Craig Lazzara, Managing Director at S&P DJI.
2023-05-30
US House Price Growth Weakest in 11 Years
The S&P CoreLogic Case-Shiller 20-city home price index in the US edged up 0.4% yoy in February 2023, the smallest increase since 2012, compared to a 2.6% rise in January, and market forecasts of a flat reading. Price growth eased in all 20 cities but Miami (10.8%), Tampa (7.7%), and Atlanta (6.6%) again reported the highest gains. In contrast, declines were seen in San Francisco (-10%), Seattle (-9.3%), San Diego (-4.1%), Portland (-3.2%), Las Vegas (-2.6%), Phoenix (-2.1%), LA (-1.3%) and Denver (-1.2%). The results pre-date the disruptions in the banking industry which began in early March. Although forecasts are mixed, so far the Fed seems focused on its inflation-reduction targets, which suggests that interest rates may remain elevated, at least in the near-term. Mortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months, according to Lazzara, Managing Director at S&P DJI.
2023-04-25
US House Prices Rise the Least since 2019: Case-Shiller
The S&P CoreLogic Case-Shiller 20-city home price index in the US rose 2.5% year-on-year in January of 2023, the smallest increase since November of 2019, following a 4.6% rise in December, in line with market forecasts. Miami (13.8%), Tampa (10.5%), and Atlanta (8.4%) again reported the highest year-over-year gains, but declines were seen in prices in San Francisco (-7.6%), Seattle (-5.1%), San Diego (-1.4%) and Portland (-0.5%). Compared to the previous month, house prices fell for a seventh straight month (-0.6%), with 19 cities registering a decline and continued weakness in home prices on the West Coast. "Mortgage financing and the prospect of economic weakness are likely to remain a headwind for housing prices for at least the next several months", according to Craig J. Lazzara, Managing Director at S&P DJI.
2023-03-28