The S&P Case-Shiller Home Price Indices have been tracking home prices for more than 30 years and are considered among the leading measures of U.S. home values. According to the latest release – which contains data through the end of June – home prices are up 4.3 percent over last year at the same time. But while prices continue to increase, they are doing so at a slower pace. In fact, June’s increase was flat from the month before and both the 10- and 20-City Composites saw declines. Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, says prices are stable, but the long-term trend remains to be seen. “Housing prices were stable in June,” Lazzara said. “The National Composite Index rose by 4.3 percent in June 2020, as it had also done in May … More data will be required to understand whether the market resumes its previous path of accelerating prices, continues to decelerate, or remains stable. That said, it’s important to bear in mind that deceleration is quite different from an environment in which prices actually fall.” According to the data, Phoenix, Seattle, and Tampa saw the biggest price gains year-over-year. (source)
Price Index Finds Home Values Up 4.3%
