by Calculated Threat on 5/28/2024 09:00:00 AM
S&P/Case-Shiller launched the month-to-month House Value Indices for March (“March” is a 3-month common of January, February and March closing costs).
This launch consists of costs for 20 particular person cities, two composite indices (for 10 cities and 20 cities) and the month-to-month Nationwide index.
From S&P S&P CoreLogic Case-Shiller Index Hits New All-Time Excessive in March 2024
The S&P CoreLogic Case-Shiller U.S. Nationwide House Value NSA Index, protecting all 9 U.S. census
divisions, reported a 6.5% annual achieve for March, the identical enhance because the earlier month. The ten-
Metropolis Composite noticed a rise of 8.2%, up from a 8.1% enhance within the earlier month. The 20-Metropolis
Composite posted a slight year-over-year enhance to 7.4%, up from a 7.3% enhance within the earlier
month. San Diego continued to report the very best year-over-year achieve among the many 20 cities this month
with an 11.1% enhance in March, adopted by New York and Cleveland, with will increase of 9.2% and
8.8%, respectively. Portland, which nonetheless holds the bottom rank after reporting three consecutive months
of the smallest year-over-year progress, posted the identical 2.2% annual enhance in March because the earlier
month.
…
The U.S. Nationwide Index, the 20-Metropolis Composite, and the 10-Metropolis Composite all continued their upward
development from final month, exhibiting pre-seasonality adjustment will increase of 1.3%, 1.6% and 1.6%,
respectively.After seasonal adjustment, the U.S. Nationwide Index posted a month-over-month enhance of 0. 3%, whereas
the 20-Metropolis and the 10-Metropolis Composite each reported month-over-month will increase of 0.3% and 0.5%,
respectively.“This month’s report boasts another all-time high,” says Brian D. Luke, Head of Commodities, Actual &
Digital Belongings at S&P Dow Jones Indices. “We’ve witnessed information repeatedly break in each inventory and
housing markets over the previous yr. Our Nationwide Index has reached new highs in six of the final 12
months. Throughout that point, we’ve seen report inventory market efficiency, with the S&P 500 hitting contemporary
all-time highs for 35 buying and selling days prior to now yr.“San Diego stands out with a formidable 11.1% annual achieve, adopted intently by New York, Cleveland,
and Los Angeles, indicating a powerful demand for city markets.”
emphasis added
Click on graph for larger image.
The first graph shows the nominal seasonally adjusted Composite 10, Composite 20 and National indices (the Composite 20 was started in January 2000).
The Composite 10 index was up 0.5% in March (SA). The Composite 20 index was up 0.3% (SA) in March.
The National index was up 0.3% (SA) in March.
The second graph exhibits the year-over-year change in all three indices.
The Composite 10 SA was up 8.2% year-over-year. The Composite 20 SA was up 7.4% year-over-year.
The Nationwide index SA was up 6.5% year-over-year.
Annual value adjustments had been near expectations. I am going to have extra later.
