S&P Cotality Case-Shiller: U.S. Home Prices Rose 2.1% in August, Chicago Led 20 Cities With a 6.7% Gain
The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 2.1% annual gain for August, up from a 1.9% increase in July, S&P Dow Jones Indices said on October 27. The 20-City Composite rose 2.7% year over year. After seasonal adjustment, both the National Index and the 20-City Composite rose 0.3% month over month; before adjustment, the National Index fell 0.2%, reflecting the typical late-summer slowdown.
Regional differences were stark. Chicago reported the highest annual gain among the 20 cities for the sixth consecutive month, up 6.7%, followed by New York at 6.2% and Cleveland at 4.3%. Seattle posted the largest annual decline for the third straight month, falling 2.0%, followed by Las Vegas at -1.3% and Denver at -0.8%. S&P also noted continuing transaction recording delays in Wayne County, the most populous county in the Detroit metro area.
In real terms, U.S. home values fell for the 15th consecutive month, as August inflation of 3.4% ran about 1.3 percentage points above the 2.1% nominal price gain, though the gap narrowed. "Affordability, however, remains challenging," said Rebecca Kaufman, Associate Director of Commodities at S&P Dow Jones Indices. "With inflation at 3.4%, Brent crude near $100 per barrel and mortgage rates in the mid-to-high 6% range, households continue to face elevated costs alongside persistently high home prices." The Federal Housing Finance Agency's index, released the same day, showed prices up 0.3% on the month and 2.4% on the year, a consistent picture across the two measures.
Source: GSM · USA (original Chinese edition)
Photo: Illinois 州 Chicago 市中心与 Chicago 河（资料图）：Chicago 是8月20城中房价同比涨幅最高的城市。John Picken 原作、G 改作，CC BY 2.0，经 Wikimedia Commons。 / Downtown Chicago and the Chicago River, Illinois (file photo): Chicago posted the largest annual home price gain among the 20 cities in August. By John Picken, derivative by G, CC BY 2.0, via Wikimedia Commons.
