Key Points:
- The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 2.6% in the year that ended in August after rising 1.0% in July.
- The August level was the highest since the index began in 1987.
- The 20-City Composite posted a year-over-year increase of 2.2%, a slight increase of 0.2% in the previous month.
- The 10-City Composite showed an increase of 3.0%, up from a 1.0% increase in the previous month.
- Chicago led the way for the fourth consecutive month, reporting the highest year-over-year gain among the 20 cities in August.
- Twelve of the 20 cities reported higher prices in the year ending August 2023 versus the year ending July 2023.
- Nineteen of the 20 cities show a positive trend in year-over-year price acceleration compared to the prior month.
- The Right Facts will continue to monitor home prices.