The S&P Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices for the nine U.S. Census divisions. Calculated quarterly, it is considered among the leading measures of national home prices. According to the most recent release, price increases continue to decelerate, with values up just 1.3 percent year-over-year through the end of September. That’s down slightly from the previous month’s results, when prices rose 1.4 percent from year-before levels. Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices, says it’s the weakest gain since 2023. “The housing market’s deceleration accelerated in September, with the National Composite posting just a 1.3 percent annual gain – the weakest performance since mid-2023,” Godec said. “Regional performances reveal a tale of two markets. Chicago continues to lead with a 5.5 percent annual gain, followed by New York at 5.2 percent and Boston at 4.1 percent. These northeastern and midwestern metros have sustained momentum even as broader market conditions soften.” On the opposite end, southern and western metros like Tampa, Phoenix, Dallas, and Miami have seen annual declines. (source)
