Workflow
S&P CORELOGIC CASE-SHILLER INDEX RECORDS 3.9% ANNUAL GAIN IN DECEMBER 2024
SPGIS&P Global(SPGI) Prnewswire·2025-02-25 15:00

Core Insights - The S&P CoreLogic Case-Shiller Indices reported a 3.9% annual gain in U.S. home prices for December 2024, slightly up from 3.7% in the previous month [1][2] - The 10-City Composite Index saw a 5.1% annual increase, while the 20-City Composite Index recorded a 4.5% increase [2] - New York led the 20 cities with a 7.2% annual gain, while Tampa experienced the lowest return with a decline of 1.1% [2] Year-over-Year Performance - The U.S. National Home Price NSA Index showed a 3.9% annual return for December, an increase from 3.7% in November [2] - The 10-City Composite Index increased by 5.1%, up from 5% in the previous month, and the 20-City Composite Index rose by 4.5%, compared to 4.3% previously [2] - Notable annual gains were reported in New York (7.2%), Chicago (6.6%), and Boston (6.3%) [2] Month-over-Month Performance - The pre-seasonally adjusted U.S. National and 20-City Composite Indices both dropped by 0.1% in December, while the 10-City Composite Index fell by 0.04% [3] - After seasonal adjustment, all three indices (U.S. National, 20-City, and 10-City Composite) posted a month-over-month increase of 0.5% [3] Market Analysis - Since 2020, national home prices have risen by 8.8% annually, with significant growth in Florida, North Carolina, Southern California, and Arizona [4] - The peak home price appreciation of 18.9% was observed in 2021, with current growth below historical trends [4] - The second half of 2024 saw a stall in home prices, particularly in the West, with San Francisco experiencing a 4.5% decline [5] Regional Insights - The Northeast region continues to show above-trend growth, with New York achieving the highest annual gain for the eighth consecutive time [6] - Boston reached an all-time high in home prices, the only market to do so for the period ending December 2024 [6] Supporting Data - The S&P CoreLogic Case-Shiller Indices provide a historical perspective on home price trends, with the National Index currently at 323.22, reflecting a 141.2% increase from its 2012 trough [8] - The 20-City Composite Index is at 332.21, showing a 147.8% increase from its trough in 2012 [9]