Economist's Insights

S&P Case-Shiller Shows More Home Price Gains

Aug 30, 2017

The S&P Cash-Shiller 20-City Metro Home Price Index rose 0.11% in June compared with May and 5.65% from June 2016; both were slightly better than expected. The June report also included upward revisions to the May data which raised the YoY rate in May from 5.69% to 5.74%. The YoY rate of price appreciation for the 20-City Metro area has slowed in each of the last three months and June’s 5.65% gain was the weakest of 2017. However, in a longer context the pace of price increases remains at one of its strongest levels since 2014. While the pace slowed in the major metro areas, the broader national index rose 5.77% from June 2016 and at its fastest pace in three years. Home prices continue to be pushed higher as a result of steady demand and tight supplies