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October 26, 2021US S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES, AUGUST 2021 S&P Dow Jones Indices today released data for the S&P CoreLogic Case-Shiller Indices for August 2021.
Month over Month (Aug 2021 vs Jul 2021, seasonally adjusted)
S&P Dow Jones Indices reports that US national house prices, as measured by the S&P CoreLogic Case - Shiller Indices rose by 1.4% from the previous month. The 20-city composite average rose by 1.2% while the 10-city composite rose by 0.9%.
Housing prices were up for all 20 major urban centres. Tampa, Las Vegas, Phoenix, and Miami reported the largest gains. New York City and Minneapolis reported the slowest growth.
Year over year (August 2021 vs August 2020, seasonally adjusted)
Compared with August 2020, national US house prices rose by 19.9%. The 20-city composite average rose by 19.7% while the 10-city composite rose by 18.6%.
Housing prices were up for all 20 major urban centres. Phoenix, San Diego and Tampa reported the largest gains. Washington, Minneapolis and Chicago reported the slowest growth.
Year to date (Jan-Aug 2021 vs Jan-Aug 2020, seasonally adjusted)
US national house prices rose by 15.9% in the first eight months of 2021 compared to the same period last year. The 20-city composite average rose by 16.1% while the 10-city composite rose by 15.5%.
Housing prices were up for all 20 major urban centres. Phoenix, San Diego and Seattle reported the largest gains. Chicago, Minneapolis and Washington reported the slowest growth.
Trends and Comparisons
After bottoming out in 2012, US house prices grew at a steady pace up to 2020 before accelerating in 2021 (+19.8%). 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. Prices increased +17.3% September 2021 vs September 2020. After a long period of slow growth, house prices in Halifax started to accelerate in 2019, rising to +31.7% growth from September 2020 to September 2021.
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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