The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 2.6% increase in August compared to the previous year, according to data released by S&P Dow Jones Indices on Tuesday. This marks a significant improvement from the 1.0% change seen in July and is indicative of a positive trend in home prices across the country.
In particular, Chicago stood out as having the highest year-over-year gain among all 20 cities included in the index for four consecutive months now. While seven cities did report lower prices compared to July, overall there was an upward trend with 19 out of 20 cities showing positive acceleration.
According to Craig J.Lazzara, Managing Director at S&P DJI,”U.S.home prices have continued their steady rise throughout August2023.” He further added that this is evident from our National Composite’s growth of0 .4%, marking its seventh consecutive monthly increase since reaching its lowest point back in January2023.”
