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December 31, 2019US S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES, OCTOBER 2019 
S&P Dow Jones Indices reports that US national house prices, as measured by the S&P CoreLogic Case - Shiller Indices, rose by 0.5 per cent nationally in October (seasonally adjusted) from the previous month. The 20-City Composite Index and the 10-City Composite rose 0.4 per cent month-to-month. All cities in the 20-city composite saw monthly price increases except for San Francisco.
Compared with October 2018, national US house prices grew by 3.3 per cent (seasonally adjusted). Although prices continue to rise, the pace of house price growth is slowing, particularly among the larger urban centres. The 10-city composite price index was up 1.7 per cent year-over-year while the 20-city composite price index was up 2.2 per cent.
Starting from the same base period (setting the index=100 for January 2000), Canadian house prices did not experience the same rise and fall as US house prices did during the 2008-2009 financial crisis and recession. Comparable Canadian city averages and the Halifax average grew at a more stable pace through 2007-2012. From 2012 to 2017, Halifax house prices remained largely stable while Canadian and US prices continued to grow. The Canadian house price index grew much more rapidly through 2016 and 2017, mostly because of accelerating prices in the Toronto and Vancouver markets. Growth in the Canadian house price index has slowed somewhat since August 2017, though Halifax home prices have started to rise since then.
Among the major metropolitan areas monitored, the strongest year-over-year house price growth occurred in Tampa, Charlotte, Atlanta and Minneapolis. House price growth was slower in Chicago and New York and while it declined in San Francisco.
Year-to-date, the strongest house price growth among metropolitan areas monitored occurred in Las Vegas, Tampa and Charlotte, while Chicago, Seattle and San Francisco had the weakest growth.
Note: The 20-City Composite Index includes 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 DC. The 10-City Composite Index includes Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington DC.
Source: S&P Dow Jones Indices, Teranet National-Bank (Canada, Halifax)
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