S&P Cotality Case-Shiller Index Posts 1.5% Annual Gain in June
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The S&P Cotality Case-Shiller U.S. National Home Price NSA Index posted a 1.5% annual gain in June.
That compares with a 1.2% increase in May.
The 10-City Composite saw an annual increase of 2.9%, up from 2.4% in the previous month. The 20-City Composite posted an annual increase of 2.1%, up from 1.6% in May.
U.S. home values fell in real terms for the 13th consecutive month, since June’s 3.5% inflation rate outpaced that home price growth.
“Homeowners and renters alike breathed a sigh of relief in June as inflation cooled to 3.5%, while the S&P Cotality Case-Shiller National Home Price Index posted a 1.5% annual gain, up from a 1.2% annual gain in May,” said Rebecca Kaufman, associate director of commodities at S&P Dow Jones Indices. “While home prices continue to decline in real terms, lower inflation and firmer nominal home price growth in June helped slow that pace of erosion.”
On a month-over-month basis, the pre-seasonally adjusted U.S. National and 20-City Composite indices recorded monthly gains of 0.4%. The 10-City Composite gained 0.5%. After the seasonal adjustment, the U.S. National Index posted a 0.1% gain, the 10-City Composite Index posted a 0.3% gain and the 20-City Composite Index posted a 0.2% gain.
