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Tuesday, January 27, 2015

National Home Price Steadily Decelerates

The 20-City Case-Shiller Composite gained 4.3% year-over-year in November, compared with a 4.5% gain in October, as the pace of home prices across the country continued to steadily decelerate. The 10-City Composite gained 4.2% in November from the previous year, down from 4.4% in October. The National Index recorded a 4.7% gain on an annual basis in November, compared to a 4.6% gain in October, the only index of the three to accelerate.

On a monthly basis, the 10-City Composite declined 0.3%, the 20-City Composites declined 0.2% and the National Index declined 0.1%.



Nine cities of the 20-City Composite (four cities of the 10-City) reported monthly declines in November. Chicago and New York were the primary contributors to the monthly decline, decreasing 1.1% and 0.8%, respectively, partially offset by a 0.8% increase in Tampa and a 0.6% increase in Miami.

Year-over-year, San Francisco increased 8.9%, the highest of the 20 cities, followed by 8.6% growth in Miami and 7.7% growth in both Las Vegas and Dallas. Cleveland reported the slowest year-over-year growth, increasing 0.6%, followed by a 1.5% increase in both New York and Minneapolis.

Read the S&P release.

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