The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.8% annual gain for December, 2022. Their 10-City Composite annual increase came in at 4.4% and their 20-City Composite posted a 4.6% year-over-year gain. While positive, both increases continued to be down from previous months.
“The cooling in home prices that began in June 2022 continued through year end, as December marked the sixth consecutive month of declines for our National Composite Index…The National Composite declined by –0.8% in December, and now stands 4.4% below its June peak. For 2022 as a whole, the National Composite rose by 5.8%, the 15th best performance in our 35–year history...” Said Craig J. Lazzara, Managing Director at S&P DJI.