Government of Nova Scotia, Canada

Home > Economics and Statistics > Archived Daily Stats
The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.

<--- Return to Archive

For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

September 26, 2023

S&P Dow Jones Indices today released data for the S&P CoreLogic Case-Shiller Home Price Indices for July 2023.

Month over Month (July 2023 vs June 2023, seasonally adjusted)

S&P Dow Jones Indices reports that US national house prices, as measured by the S&P CoreLogic Case - Shiller Indices increased by 0.6% from the previous month. The 20-city composite average and 10-city composite average were up 0.9% and 0.8% respectively compared to June 2023.

Month-over-month housing prices increased for all major urban centres. Seattle reported the largest gain.

 Year over year (July 2023 vs July 2022, seasonally adjusted)

In the year over year comparison, National US house prices increased 1.0% in July 2023. The 20-city composite average increased 0.1% and the 10-city composite grew 0.9%. Housing prices were up for 12 major urban centres, with the largest gains in Chicago and Cleveland. The largest declines were reported in Las Vegas and Phoenix.

Year to date (January-July 2023 vs. January-July 2022, seasonally adjusted)

US national house prices rose by 1.0% in the first seven months of 2023 when compared to the same period last year. The 20-city composite average declined by 0.4% and the 10-city composite was up 0.1%.

Housing prices were up for 11 major urban centres. Miami and Chicago reported the largest gains. San Francisco and Seattle reported the largest declines.

Trends and Comparisons

After bottoming out in 2012, US house prices grew at a steady pace up to 2020 before accelerating from summer 2020 to summer 2022. US house prices declined at a slower pace from September 2022 to January 2023. In recent months, US house prices started to increase again and are past the peak of June 2022. Canadian urban house price growth (measured by the Teranet-National Bank House Price Index) grew more rapidly starting in 2016 and accelerated again in 2020. However, in recent months, house price inflation in Canada has grown again more rapidly than in the US. Canada's 11-city composite house prices grew 1.2% year-over-year in August 2023.

After a long period of slow growth, house prices in Halifax started to accelerate from 2019 until May 2022. Following a period of fluctuations in early 2023, Halifax year-over-year resale house prices increased 5.3% in August 2023. 

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,  retrieved from FRED, Federal Reserve Bank of St. Louis

<--- Return to Archive