Home Price Index
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 on a quarterly basis.
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%.
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Home appreciation slows in second quarter
June 2015 figures for the Case-Shiller Home Price Index were released last week, showing single family home prices in New York rose just 0.1% in the second quarter (Q2) of the year. This is down from an increase of 1.7% in the first quarter (Q1), according to revised figures. The national 20-city index fell by -0.2%, having increased 2.9% during the first quarter.
There was an overall trend towards slower growth between Q1 and Q2, with some cities even experiencing price depreciation. After all markets appreciated in Q1, 11 markets depreciated in Q2 (Chicago and San Francisco experienced the strongest …Read more
National prices on par with NY
Single-family home prices in the New York area rose 2% in the first quarter of 2015, according to new seasonally adjusted figures for the Case-Shiller Home Price Index. Prices are up 2.7% in New York over the previous 12 months.
In comparison, the 20-city national index rose 3.1% in the first quarter and 5% over the previous year. The national index has been increasing at a faster pace than New York for at least the past year, finally catching up with it.
Speaking of the national index, a representative of S&P Dow Jones Indices indicated that home prices have also …Read more
Home price increases taper in 2014
Figures for the Case-Shiller Home Price Index through December 2014 show that single-family home prices (seasonally adjusted) appreciated 2% in New York in 2014, compared with 4.5% nationally. The appreciation happened in the first and last quarters of the year and compensated for six consecutive months of price depreciation between March and September, with a similar trend occurring nationally.
All cities ended the year with slower annual growth than they started it off, indicating that home prices tapered substantially in 2014. San Francisco saw annual home prices increase 23.2% in January, but ended the year with a 9.4% increase -the …Read more
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.…Read more
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. …Read more
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 …Read more
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 …Read more
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, …Read more
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 …Read more
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 …Read more