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Case-Shiller Home Prices: 2018 Started With Steady Gains

March 27, 2018
Bottom Line: January home price data showed solid gains, broadly distributed nationwide to start 2018. Overall, tight supply conditions were causing a moderate acceleration in home prices in late 2017, and that looked to be continuing to start 2018.

Case Shiller 20-City Home Price Index ROSE by 0.8% (seasonally adjusted) in January to 207.4, compared with market expectations for an increase of 0.6%.

Home prices are 6.3% ABOVE their year ago level.

Nationwide home prices are now just 0.3% ABOVE their April 2006 peak, near late 2005 levels and 51.6% ABOVE their January 2012 trough.
On a non-seasonally adjusted basis, the home price index ROSE by 0.3% on the month.

Housing prices rose in 20 of the 20 metro areas in January (on a seasonally adjusted basis) and in 20 of 20 metro areas on a year-over-year basis. Washington DC had the smallest year-over-year increase at 2.9% while Seattle had the largest year-over-year increase at 14.5%.