Here’s a city-by-city look at U.S. house prices, after the S&P/Case-Shiller 20-city composite showed a 0.4% advance in home prices during August, to stretch year-on-year gains to 5.1%.
The list is drawn from the cities in the index, which doesn’t include some major metropolitan areas including Houston and Philadelphia.
|City||Monthly change||Yearly change|
• Eighteen out of 20 cities reported monthly gains. That’s not unusual for the summer, and after seasonal adjustment, five were down, 11 were up, and four were unchanged.
• The report notes that, when adjusted for inflation, prices now are rising almost as quickly as they did during the 2005-2006 boom. One difference is the current growth is more about restricted supplies than overflowing demand.
• Compared to Aug. 2014, Denver and San Francisco have the fastest growth at 10.7%; New York, Chicago and Washington D.C. each have growth of under 2%.
• The Case-Shiller index combines three months of data, so in the August report, transactions included those in June and July.
• The Federal Housing Finance Agency’s home price index said prices rose 5.5% over the preceding 12 months, while CoreLogic said prices grew 6.9% over the same time period.