The Case-Shiller US National Home Price Index, reported by S&P Dow Jones Indices Tuesday, rose at a seasonally adjusted annual growth rate of +2.8% in January 2019, after rising +2.5% in December. On a year-over-year basis, the Case-Shiller US National Home Price Index rose by +4.3% in January, down from a +4.6% increase in December. It was the lowest annual gain since February 2015. Annual growth rate has decreased for ten straight months, from +6.5% in March 2018 to +4.3% in January 2019.
The slowdown in home price appreciation and lower mortgage rates accounted for the jump in existing home sales in February, said the National Association of Home Builders‘ Eye on Housing blog.
Meanwhile, the Home Price Index, released by the Federal Housing Finance Agency, rose at a seasonally adjusted annual rate of +7.1% in January 2019, following the +4.2% increase in December. On a year-over-year basis, the FHFA Home Price NSA Index rose by +5.6% in January, the lowest annual growth rate since December 2015.
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The Composite 10 Housing Markets index is up +3.2% compared to January 2018, while the Composite 20 Housing Markets index is up +3.6% year-over-year.
The National index is up +4.3% year-over-year.