Tuesday, November 25, 2014

Annual Home Price Continues Deceleration

The 20-City Case-Shiller Composite gained 4.9% year-over-year in September, compared with a 5.6% gain in August, as the Index continued its steady deceleration from the 13.7% gain in November 2013. The 10-City Composite gained 4.8% in September from the previous year, down from 5.5% in August. The National Index recorded a 4.8% gain on an annual basis.

On a monthly basis, both the 10-City and the 20-City Composites were slightly negative and the National Index posted a -0.1% change for September.

Nine cities of the 20-City Composite (five cities of the 10-City) reported monthly declines in September. Washington and Atlanta were the primary contributors to the decline, decreasing 0.4% and 0.3%, respectively, partially offset by a 0.6% increase in both Miami and Charlotte and a 0.4% increase in Las Vegas.

Year-over-year, Miami increased 10.3%, the highest of the 20 cities, followed by 9.1% growth in Las Vegas and 7.9% growth in San Francisco. Cleveland reported the slowest growth, increasing 0.8%, followed by a 2.1% increase in Washington and a 2.6% increase in Chicago.

Read the S&P release.

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