US House Prices Rise the Least in Ten Months
2024-10-29 13:03
By
Joana Taborda
1 min. read
The S&P CoreLogic Case-Shiller 20-city home price index in the US increased 5.2% year-on-year in August 2024, the least in ten months, compared to a 5.9% rise in July and forecasts of 5.1%.
New York again reported the highest annual gain among the 20 cities (8.1%), followed by Las Vegas (7.3%) and Chicago (7.2%).
Denver on the other hand, posted the smallest year-over-year growth of 0.7%, followed by Portland (0.8%).
“Home price growth is beginning to show signs of strain, recording the slowest annual gain since mortgage rates peaked in 2023,” says Brian D.
Luke, CFA, Head of Commodities, Real & Digital Assets.
“As students went back to school, home price shoppers appeared less willing to push the index higher than in the summer months".