October S&P/Case-Shiller Home Price Index: National Index up 8.4% YoY NSA
With today's release of the October S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index saw a 1.69% increase month over month which is cut to 1.5% with inflation adjustment. The non-seasonally adjusted national index saw a 8.4% YoY increase.
Investing.com had forecast a 1.0% MoM seasonally adjusted increase and 6.9% YoY nonseasonally adjusted for the 20-city series.
Here is the analysis from today's Standard & Poor's press release:
NEW YORK, DECEMBER 29, 2020 – S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for October 2020 show that home prices continue to increase at a modest rate across the U.S. More than 27 years of history are available for these data series, and can be accessed in full by going to www.spdji.com. [Read more]
The chart below is an overlay of the Case-Shiller 10- and 20-City Composite Indexes along with the national index since 1987, the first year that the 10-City Composite was tracked. Note that the 20-City, which is probably the most closely watched of the three, dates from 2000. We've used the seasonally adjusted data for this illustration.