Inman News

Home prices rose 3.2% year-over-year after rising 3.1% year-over-year in August, according to S&P CoreLogic Case-Shiller US National Home Price NSA Index.

Home prices rose 3.2 percent year-over-year in September after rising 3.1 percent year-over-year in August, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

The increasing annual price gain reverses a trend of deceleration, said Craig Lazzara, the managing director and global head of index investment strategy at S&P Dow Jones Indices, in a statement.

“After a long period of decelerating price increases, it’s notable that in September both the national and 20-city composite indices rose at a higher rate than in August, while the 10-city index’s September rise matched its August performance,” Lazzara said. “It is, of course, too soon to say whether this month marks an end to the deceleration or is merely a pause in the longer-term trend.”

Regionally, Phoenix, Charlotte and Tampa reported the highest year-over-year gains, with home prices rising 6 percent annually in Phoenix.

About the index

The S&P/Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices that is calculated every month; the indices for the nine U.S. Census divisions are calculated using estimates of the aggregate value of single-family housing stock for the time period in question.

The nine divisions are:

• New England
• Middle Atlantic
• East North Central
• West North Central
• South Atlantic
• East South Central
• West South Central
• Mountain
• Pacific

CoreLogic serves as the calculation agent for the S&P/Case-Shiller U.S. National Home Price Index.