Home price growth in the US slows down in September
Source: Yahoo! Finance
Yahoo Finance
Home price growth in the US slows down in September
Amanda Fung · Editor
Tue, November 30, 2021, 9:00 AM
Home price growth in the U.S. is starting to decelerate.
Standard & Poor's said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 19.5% annual gain in September, down from 19.8% from August. (1) The 20-City Composite posted a 19.1% annual gain, down from 19.6% a month earlier. The 20-City results came in lower than analysts' expectations of a 19.3% annual gain, according to Bloomberg consensus estimates.
"If I had to choose only one word to describe September 2021's housing price data, the word would be 'deceleration,'" said Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI. "Housing prices continued to show remarkable strength in September, though the pace of price increases declined slightly."
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Phoenix continued to lead the 20-City Composite, posting a 33.1% annual gain followed by two cities in Florida -- Tampa and Miami. Tampa posted a 27.7% year-over-year gain and Miami a 25.2% gain.
"We also saw very strong price growth at the city level. All 20 cities saw price increases in September, and all 20 cities stand at their all-time highs," said Lazzara. "September's price increase ranked in the top quintile of historical experience for all 20 cities, and in the top decile for 17 of them. That said, in 14 of 20 cities, prices decelerated -- i.e., increased by less in September than in August."
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(1) https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20210629-1407760/1407760_cshomeprice-release-0629.pdf
Read more: https://finance.yahoo.com/news/case-shiller-home-price-september-2021-140003526.html
Edited to add the link to the .pdf document
Hat tip, Zorro
= new reply since forum marked as read
