Home Price Index

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We are continuously tracking the S&P Case-Shiller Home Price Index, which examines the rise and fall of single family home prices in 20 major metropolitan areas of the United States and have designed our own chart to offer a useful analysis of the data as soon as it is released each month.

The chart is designed to track single family home prices in the New York City area, Las Vegas, Los Angeles and the Case Shiller Index of the 20 major metropolitan areas. We also include a trend line that shows how the index for the 20 major metro areas would have changed if home prices had appreciated at the historically expected 5% (See this Freddie Mac analysis of long term home price trends: Whither Home Values). Our “normal” trend line starts at January 2000 and increases prices annually at 5%.

You can read details of the elements of the index here.

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New York Less Affected by National Decline in Home Values

Case-Shiller Home Price Index figures were released yesterday for August 2014. Seasonally adjusted home values in the New York metropolitan area fell by 0.2% in August, consolidating the fifth consecutive month of decline. Nationally, home prices declined 0.1%. Annual price changes since August 2013 are +3% in New York and +5.6% nationally.

Despite the decline in New York, home values remained more stable than in many of the markets that have seen strong growth recently. New York values are also among the closest to the 20-City composite index value, indicating that they do not significantly diverge from the national trend.…

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Annual home appreciation rates decline

Single-family home prices depreciated again in June, according to the latest data for the seasonally adjusted Case-Shiller Home Price Index, which was released last week. Prices in New York declined 0.1% from May, while the national 20-city composite index declined 0.2%. Since June of 2013 prices have increased by 4.3% in New York and 8.1% nationally, although year over year appreciation has been slowing down in recent months.

Non-seasonally adjusted data, however, revealed price increases from May to June of 1.6% in New York and 1% nationally, possibly as a result of the typical upswing in sales during the summer. …

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Home prices declined nationwide

The latest figures from the Case-Shiller Home Price Index were released today, indicating that in May home prices declined 0.2% in New York and 0.3% nationally (seasonally adjusted figures). Prices are still up 4.8% in New York and 9.3% nationally since one year ago.

This is the second consecutive month of price drops in New York after seventeen consecutive months of increases, although revised figures show the drop in April was lower than was initially reported. This decline also appears to be part of a wider trend: thirteen other cities saw lower prices in May than in April and the …

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April brings slump in New York home prices

Single-family home prices declined 0.3% in the New York region in April, the first slump in seventeen months according to the seasonally adjusted Case-Shiller Home Price Index. This was a significant decline from March, when prices increased 0.4%. Year over year price increases for New York declined from 6.5% in March to 5.4% in April. Nationally, home prices continued to increase in April but in most markets did so at a significantly lower pace than in March: the 20-city composite index increased just 0.2% in April compared to 1.2% in March, while year over year price changes were 12.3% in …

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Slow growth but high home prices

Single-family home prices continued to rise more slowly in New York than they did nationwide, according to the most recent figures of the Case-Shiller Home Price Index. In February prices increased 0.2% in the Big Apple metropolitan area compared to 0.8% for the national 20-city composite index. Year-to-year increases were 6.1% and 12.9%, respectively.

Increases in the national price index continue to be driven largely by the markets in Las Vegas, San Francisco, San Diego and Los Angeles, while price increases in New York are among the lowest in the country. Only the three California cities and Washington, DC, however, …

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Will 2014 see slower home price increases?

Home prices rose 0.8% nationwide in January 2014 as measured by the Case-Shiller 20-city composite index. New York home prices rose in the same proportion, the fourteenth consecutive month of price increases. Year to year, home prices increased 6.8% in New York and 13.3% nationally. San Francisco posted the highest growth of all cities included in the index: 1.7% since the previous month and 23.1% in the past year. At 0.2%, Boston saw the lowest month-to-month price increase and Denver, at 0.4%, saw the lowest year-to-year increase.

Most analysts expect home prices to increase more moderately in 2014 than they …

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Uncertainty in Housing Prices as 2013 Ends

In 2013 single -family house prices rose 6.3% in the New York region and 13.6% nationally (as measured by the 10-city composite) according to the latest figures from the Case-Shiller Home Price Index. Although the year started with prices in New York 1.7% above the national average, by December prices in New York were 4.6% lower. The rapid increase in prices nationwide in 2013 was driven by the rapid growth in metropolitan areas of the Southwest and California, particularly Las Vegas (25.5%), San Francisco (22.6%) and Los Angeles (20.3%). New York prices had not increased year over year since …

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November Brings Slight Decline in NY Home Prices

The Case-Shiller Home Price Index shows that New York home prices declined by 0.4% in November 2013, while nationally the 10-city composite index declined by 0.1%. New York’s price decrease was the first since March, while the decline in the national index was the first in a year. Prices were still up 6% in New York since last year compared to an increase of 13.8% nationally. It is common for home prices to go down in the winter, as occurred in 9 of the 20 cities measured in the index.

According to the press release issued with the latest figures:…

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New York Home Prices Remained Static in October

Single family home prices remained static in the New York Metro area in October 2013, ending six consecutive months of price increases according to the Case-Shiller Home Price Index. Nationwide, home prices increased only 0.2% over the previous month. Year over year increases remained strong at 13.6% nationwide, but were only 4.9% in the New York metropolitan area. Along with Cleveland, which also saw a 4.9% increase, home prices in New York increased less than in any other market included in the Index.

A number of markets with strong growth in the past year, including San Francisco and Atlanta, saw …

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Home prices rise slightly in the last month of the summer

Single family home prices in the New York metro area rose by 0.6% in September, in line with a national increase of 0.7% in the last month of the summer. Nearly all cities, including New York, saw prices rise more slowly in September than in August. Over the past year, prices in New York increased 4.3%, compared to 13.3% for the 10-city composite index.

Housing markets in California, Las Vegas and Phoenix saw prices increase between 18.6% and 29.1% over the previous year, but the pace of that increase in San Diego, San Francisco and Los Angeles slowed down for …

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