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Tuesday, February 24, 2015

2014 National Home Prices Grew Twice the Rate of Inflation

The 20-City Case-Shiller Composite gained 4.5% year-over-year in December, compared with a 4.3% gain in November. The 10-City Composite gained 4.3% in December from the previous year, up from 4.2% in November. The National Index recorded a 4.6% gain on an annual basis in December, down from a 4.7% gain in November.

On a monthly basis, the 10-City and 20-City Composites each posted slight increases of 0.1%, while the National Index declined 0.1%.



Month-over-month, nine cities posted price increases while six posted decreases. Chicago and Cleveland were the primary contributors to the monthly decline, decreasing 0.9% and 0.5%, respectively, offset by a 0.7% increase in Miami and a 0.5% increase in Denver.

Year-over-year, San Francisco increased 9.3%, the highest of the 20 cities, followed by 8.4% growth in Miami. Chicago reported the slowest year-over-year growth, increasing 1.3%, followed by a 1.5% increase in both Cleveland and Washington.

Read the S&P release.

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