S&P CoreLogic Case-Shiller 20 City Home Price Index August 2020 Year-Over-Year Growth Accelerates

The non-seasonally adjusted S&P CoreLogic Case-Shiller home price index (20 cities) year-over-year rate of home price growth increased. The index authors stated, "Prices were strongest in the West and Southeast regions, and comparatively weak in the Midwest and Northeast".

Analyst Opinion of Case-Shiller HPI

Please note from the authors:

Please note that transaction records for July 2020 for Wayne County, MI are now available. Due to delays at the local recording office caused by the COVID-19 lockdown, S&P Dow Jones Indices and CoreLogic were previously unable to generate a valid July 2020 update of the Detroit S&P CoreLogic Case-Shiller indices.

However, there are not a sufficient number of records for the month of August for Detroit. Since Wayne is the most populous county in the Detroit metro area, S&P Dow Jones Indices and CoreLogic are unable to generate a valid Detroit index value for the October release. When the sale transactions data fully resumes and sufficient data is collected, the Detroit index values for the month(s) with missing updates will be calculated.

All home price indices are now showing home price growth is accelerating year-over-year. At this point, it looks like the pandemic has little affected home prices (or sales for that matter).

  • 20 city unadjusted home price rate of growth accelerated by 1.1 % month-over-month. [Econintersect uses the change in year-over-year growth from month-to-month to calculate the change in the rate of growth]
  • Note that the Case-Shiller index is an average of the last three months of data.
  • The market expected from Econoday:
  Consensus Range Consensus Actual
20-city, SA - M/M 0.4 % to 0.7 % +0.4 % +0.5 %
20-city, NSA - M/M 0.2 % to 0.6 % +0.3 % +1.1 %
20-city, NSA - Yr/Yr 3.8 % to 4.9 % +4.1 % +5.2 %

S&P/Case-Shiller Home Price Indices Year-over-Year Change

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