Slowdown in the Home-Price Increase

In accordance with the Case-Shiller Home Price Index from S&P Dow Jones Indices and CoreLogic, October 2019 saw an annual increase of 3.3% for home prices throughout the country, which happens to be up from the previous month’s pace.

Slowdown in the Home-Price Increase

Throughout the month, the 10-city and 20-city composites reported a 1.7% and 2.1% year-over-year increase, respectively. Eight of 20 cities reported increases before seasonal adjustment, whereas 18 of 20 cities reported increases after seasonal adjustment.

Phoenix, Tampa, and Charlotte reported the largest year-over-year gains among all of the 20 cities.

“The Southeast region was also strong, as Charlotte, Tampa, and Atlanta all rose at greater than a 4% clip,” says Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices. In October, Phoenix led having a 5.8% year-over-year home price increase, followed by Tampa with a 4.9% increase and Charlotte with a 4.8% increase.

“October’s results were broad-based, as both our 10- and 20-city composites rose,” Lazzara adds. “Of the 20 cities in the composite, only San Francisco saw a year-over-year price decline in October. As was the case last month, after a long period of decelerating price increases, the national, 10-city, and 20-city composites all rose at a modestly faster rate in October compared to September.”

Ready to find your new home here in the Tampa Bay and Surrounding Areas? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simply click here and we will be in touch with you shortly.

Need to get started with your mortgage process? You can contact Kyle Edwards with Iberia Bank at 813-495-5131, or simply click here to start your online application.

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