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Housing Market: US: Difference between revisions
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* The S&P CoreLogic Case-Shiller 20-city home price index in the US increased 1.7% month-over-month in April of 2023, marking a third consecutive month of rising prices, a sign the housing market continued to strengthen. <ref name=":3" /> | * The S&P CoreLogic Case-Shiller 20-city home price index in the US increased 1.7% month-over-month in April of 2023, marking a third consecutive month of rising prices, a sign the housing market continued to strengthen. <ref name=":3" /> | ||
* The S&P CoreLogic Case-Shiller 20-city home price index in the US fell 1.7% yoy in April 2023, the biggest decline since April 2012, and compared to forecasts of a 2.6% drop. | * The S&P CoreLogic Case-Shiller 20-city home price index in the US fell 1.7% yoy in April 2023, the biggest decline since April 2012, and compared to forecasts of a 2.6% drop. | ||
=== May 2023 === | |||
The rally in U.S. home prices continued in May 2023,” says Craig J. Lazzara, Managing Director at S&P DJI. “Our National Composite rose by 1.2% in May, and now stands only 1.0% below its June 2022 peak. The 10- and 20-City Composites also rose in May, in both cases by 1.5%. “The ongoing recovery in home prices is broadly based. Before seasonal adjustment, prices rose in all 20 cities in May (as they had also done in March and April). Seasonally adjusted data showed rising prices in 19 cities in May, repeating April’s performance. (The outlier is Phoenix, down 0.1% in both months.) On a trailing 12-month basis, the National Composite is 0.5% below its May 2022 level, with the 10- and 20-City Composites also negative on a year-over-year basis.<ref>https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20230725-1465262/1465262_cshomeprice-release-0725.pdf</ref> | |||
* Before seasonal adjustment, the U.S. National Index posted a 1.2% month-over-month increase in May, while the 10-City and 20-City Composites both posted increases of 1.5%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 0.7%, while the 10-City Composite gained 1.1% and 20-City Composites posted an increase of 1.0%. | |||
* The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a -0.5% annual decrease in May, down from a loss of -0.1% in the previous month. The 10-City Composite showed a decrease of -1.0%, which is a tick up from the -1.1% decrease in the previous month. The 20-City Composite posted a -1.7% year-over-year loss, same as in the previous month. | |||
== References == | == References == | ||