by Calculated Risk on 1/30/2024 10:08:00 AM
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 5.1% year-over-year in November
Excerpt:
S&P/Case-Shiller released the monthly Home Price Indices for November (“November” is a 3-month average of September, October and November closing prices). November closing prices include some contracts signed in July, so there is a significant lag to this data. Here is a graph of the month-over-month (MoM) change in the Case-Shiller National Index Seasonally Adjusted (SA).
The MoM increase in the seasonally adjusted Case-Shiller National Index was at 0.24%. This was the ninth consecutive MoM increase, but the smallest increase since February 2023.
On a seasonally adjusted basis, prices increased in 14 of the 20 Case-Shiller cities on a month-to-month basis. Seasonally adjusted, San Francisco has fallen 8.8% from the recent peak, Seattle is down 7.2% from the peak, Portland down 4.5%, and Phoenix is down 3.4%.
