case-shiller-national-house-price-index-increased-5-1-year-over-year-in-june

S&P/Case-Shiller released the monthly Home Price Indices for June (“June” is a 3 month average of April, May and June prices).

This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index.

Note: Case-Shiller reports Not Seasonally Adjusted (NSA), I use the SA data for the graphs.

From S&P: Home Price Gains in June Concentrated in South and West According to the S&P CoreLogic Case-Shiller Indices

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. censusdivisions, reported a 5.1% annual gain in June, unchanged from last month. The 10-City Compositeposted a 4.3% annual increase, down from 4.4% the previous month.The 20-City Composite reporteda year-over-year gain of 5.1%, down from 5.3% in May.

…

Before seasonal adjustment, the National Index posted a month-over-month gain of 1.0% while boththe 10-City Composite and the 20-City Composite posted a 0.8% increase in June. After seasonaladjustment, the National Index recorded a 0.2% month-over-month increase, and both the 10-CityComposite and 20-City Composite posted 0.1% month-over-month decreases. After seasonaladjustment, nine cities saw prices rise, two cities were unchanged, and nine cities experiencednegative monthly prices changes.

emphasis added

Click on graph for larger image.

The first graph shows the nominal seasonally adjusted Composite 10, Composite 20 and National indices (the Composite 20 was started in January 2000).

The Composite 10 index is off 11.1% from the peak, and down 0.1% in June (SA).

The Composite 20 index is off 9.1% from the peak, and down 0.1% (SA) in June.

The National index is off 2.6% from the peak, and up 0.2% (SA) in June. The National index is up 31.6% from the post-bubble low set in December 2011 (SA).

The second graph shows the Year over year change in all three indices.

The Composite 10 SA is up 4.3% compared to June 2015.

The Composite 20 SA is up 5.1% year-over-year.

The National index SA is up 5.1% year-over-year.

Note: According to the data, prices increased in 10 of 20 cities month-over-month seasonally adjusted.

I’ll have more later.

case-shiller-national-house-price-index-increased-5-1-year-over-year-in-june