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September 29, 2020US S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES, JULY 2020 S&P Dow Jones Indices today released data for the S&P CoreLogic Case-Shiller Indices for July 2020.
S&P Dow Jones Indices reports that US national house prices, as measured by the S&P CoreLogic Case - Shiller Indices, rose by 0.4 per cent nationally in July 2020 (seasonally adjusted) from the previous month. Prices rose by 0.6 per cent for the 20-City Composite Index and 0.5 per cent for the 10-City Composite Index. Monthly prices were up in all cities except for New York.
Compared with July 2019, national US house prices rose by 4.8 per cent (seasonally adjusted), continuing the trend of rising prices. Growth was steady in both the 20-City Index (+4.0%) and the 10-City Index (+3.3%).
Canadian house prices have been growing more rapidly than US home prices in recent months. In August, Canada's 11-city index increased 5.7 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 (+9.2%), Seattle (+7.0%), Tampa (+6.0%) and Charlotte (+6.0%). Year-over-year house price growth was slower in Chicago (+0.8%), New York (+1.4%) and San Francisco (+2.5%).
With the September release, transaction records for March to June 2020 for Wayne County, MI are now available. Due to delays at the local recording office caused by the COVID-19 lockdown, S&P Dow Jones Indices and CoreLogic were previously unable to generate a valid March, April, May and June 2020 update of the Detroit S&P CoreLogic Case-Shiller indices. However, there are currently an insufficient number of records for the month of July for Detroit.
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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