Home prices rose 3.2 percent year-over-year in September after rising 3.1 percent year-over-year in August, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

The increasing annual price gain reverses a trend of deceleration, said Craig Lazzara, the managing director and global head of index investment strategy at S&P Dow Jones Indices, in a statement.

“After a long period of decelerating price increases, it’s notable that in September both the national and 20-city composite indices rose at a higher rate than in August, while the 10-city index’s September rise matched its August performance,” Lazzara said. “It is, of course, too soon to say whether this month marks an end to the deceleration or is merely a pause in the longer-term trend.”

Regionally, Phoenix, Charlotte and Tampa reported the highest year-over-year gains, with home prices rising 6 percent annually in Phoenix.

About the index

The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices that is calculated every month; the indices for the nine U.S. Census divisions are calculated using estimates of the aggregate value of single-family housing stock for the time period in question.

The nine divisions are:

  • New England
  • Middle Atlantic
  • East North Central
  • West North Central
  • South Atlantic
  • East South Central
  • West South Central
  • Mountain
  • Pacific

CoreLogic serves as the calculation agent for the S&P/Case-Shiller U.S. National Home Price Index.

Email Patrick Kearns

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top