The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 3.8% annual gain for January, 2023. Their 10-City Composite annual increase came in at 2.5% and their 20-City Composite posted a 2,5% year-over-year gain. While positive, the indices were down from previous months.
“2023 began as 2022 had ended, with U.S. home prices falling for the seventh consecutive month….January’s market weakness was broadly based. Before seasonal adjustment, 19 cities registered a decline; the seasonally adjusted picture is a bit brighter, with only 15 cities declining. With or without seasonal adjustment, most cities’ January declines were less severe than their December counterparts.” Said Craig J. Lazzara, Managing Director at S&P DJI.
Click here to read the full report at S&P Dow Jones Indices.
