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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

August 25, 2020
US S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES, JUNE 2020

S&P Dow Jones Indices today released data for the S&P CoreLogic Case-Shiller Indices for June 2020.

S&P Dow Jones Indices reports that US national house prices, as measured by the S&P CoreLogic Case - Shiller Indices rose by 0.2 per cent nationally in June 2020 (seasonally adjusted) from the previous month.  Prices were little changed for the 20-City Composite Index and down 0.1 per cent for the 10-City Composite Index.  Monthly prices were down in San Francisco, Chicago, Boston, Las Vegas, New York City, Cleveland and Seattle. 

Compared with June 2019, national US house prices rose by 4.3 per cent (seasonally adjusted), continuing the trend of rising prices though at a more muted pace.  Growth was steady in both the 20-City Index (3.5 per cent) and the 10-City Index (2.8 per cent).


Canadian house prices have been growing more rapidly than US home prices in recent months. In July, Canada's 11-city index increased 5.5 per cent year-over-year while prices were up 11.1 per cent in the Halifax market.  

Among the major metropolitan areas monitored, the strongest year-over-year house price growth occurred in Phoenix (+9.0%), Seattle (+6.5%), Tampa (+5.9%) and Charlotte (+5.7%). Year-over-year house price growth was slower in Chicago (+0.6%), San Francisco (+1.5%) and New York City (+1.7%).

 

Due to deed availability delays at the local recording office caused by the COVID-19 crisis, sale transaction records for May 2020 for Wayne County, MI-Detroit have not been accounted for. Since Wayne is the most populous county in the Detroit metro area, S&P Dow Jones Indices and CoreLogic were unable to generate a valid  update of the Detroit S&P CoreLogic Case-Shiller indices.

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

 



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