S&P/Case-Shiller U.S.Home Price Index October 2013-2014

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S&P/Case-Shiller Home Price Index  October 2013-2014

Data for Standard & Poor’s/Case-Shiller (S&P/Case-Shiller) has shown an increase of 4.64% in October 2014 as compared to October 2013 prices. However, the index continued showing a deceleration in the real estate price gains. National Home Price Index has shown an increase of 4.64% from October 2013 to October 2014. The Case-Shiller 20-City Composite Index has shown a rise of 4.51% in October 2014 as compared to October 2013.

S&P/Case-Shiller Home Price Index can be defined as the leading measure of US that tracks down the changes in prices of residential real estate nationwide and 20 metropolitan regions as well. It is computed on monthly basis that tends to evaluate the changes in total valuation of the current nuclear family housing stock.

The increase of 4.51% of the house price index from October 2013 is the smallest gain in 2 years. Even the rise of percentage in the year ended in September was higher with 4.8%. With these smaller increases in the price, more Americans will be able to secure ownership. However, the wage gains are accelerating and the job market is improving, prices are still 25% higher from the depths reached after the economic slowdown. Economy is expanding because of the property values rebounding. This is helping the homeowners to repair their finances, which is boosting consumers’ confidence and spending.

The wage growth is lackluster, which makes many potential buyers not able to afford buying homes. This has resulted causing both growth of price and sales to stall this year. In spite of recent decline in the interest rate of mortgages, more buyers are yet to hit the market. In addition, the number of distressed properties and bargains are also very less, which is thus not attracting investors as buyers.

The experts are still optimistic, as there are signs of broader improvements in the economy. This may lead to increase of prices faster in some areas. According to the market trend, prices could possibly increase in 2015 .

A study on the S&P/Case-Shiller Home Price Index in between October 2013 to 2014 will give an insight about the existing trends of residential real estate industry. This year, San Francisco has become the top performing city. This is the first time San Francisco has topped the list in the last 15 years. Austin holds the number two position, which was the top performer last year. The heart of Silicon Valley, San Jose is at the fourth place.

 

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 S&P/Case-Shiller Home Price Index Nationally:

The S&P/Case-Shiller Home Price Index computed nationally. Comparing the months September to October 2014, there has been a slight fall of 0.23% and increase of 4.64% from October 2013.


Notes:

  • User interactive graph
  • Monthly, Not Seasonally Adjusted,
  • S&P Dow Jones Indices LLC, S&P/Case-Shiller U.S. National Home Price Index© [CSUSHPINSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/CSUSHPINSA/, January 4, 2015.

 S&P/Case-Shiller Home Price Index in CA-San Francisco:

Specifically, if looked into the trend of September and October 2014 there is an increase in percentage of 1.75% and comparing from October 2013, it has sharply increased to 9.21%.

Notes:

  • User interactive graph
  • Monthly, Seasonally Adjusted,
  • S&P Dow Jones Indices LLC, S&P/Case-Shiller CA-San Francisco Home Price Index© [SFXRSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/SFXRSA/, January 3, 2015.

 S&P/Case-Shiller Home Price Index CA-San Diego:

From September to October 2014, the index has increased to 0.29% and yearly increase of 4.68% from October 2013.

Notes:

  • User interactive graph
  • Monthly, Seasonally Adjusted,
  • S&P Dow Jones Indices LLC, S&P/Case-Shiller CA-San Diego Home Price Index© [SDXRSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/SDXRSA/, January 5, 2015.

 S&P/Case-Shiller Home Price Index CA-Los Angeles:

The index has shown 0.67% rise in October over September 2014 and 4.87% rise from October 2013.

Notes:

  • User interactive graph
  • Monthly, Seasonally Adjusted,
  • S&P Dow Jones Indices LLC, S&P/Case-Shiller CA-Los Angeles Home Price Index© [LXXRSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/LXXRSA/, January 5, 2015.

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 S&P/Case-Shiller Home Price Index 20-City Composite:

In between September to October2014, the percentage increase is 0.76% and from October 2013, it is 4.51%.

Notes:

  • User interactive graph
  • S&P Dow Jones Indices LLC, S&P/Case-Shiller 20-City Composite Home Price Index© [SPCS20RSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/SPCS20RSA/, January 5, 2015.

House Price Index Purchase Only (United States):

Index has increased 0.56% from September to October 2014 and 4.46% from October 2013.  

Notes:

  • User interactive graph
  • The purchase-only index is based on more than 6 million repeat sales transactions on the same single-family properties.

House Price Index All-Transactions (United States):

The House Price Index All-Transactions for United States is being calculated on quarterly basis. It continues to rise from first quarter of 2013 to third quarter of 2014 by 9.25% and by 1.41% from the second quarter of 2014.

Notes:

  • User interactive graph
  • Estimated using sales prices and appraisal data.

 House Price Index All-Transactions (California):

The percentage trend is shown going upwards from first quarter of 2013 to third quarter of 2014 by approximately 23% and increase of 2.12% from second quarter of 2014.

Notes:

  • User interactive graph
  • Estimated using sales prices and appraisal data.

Few Important Points To Be Considered For Case-Shiller:

There are few important considerate points for Case-Shiller, which includes the following:

Home Price Index is estimated 2 months post the month is analyzed and the Index reflecting a three month moving average.

  • Case-Shiller Home Price Index track tends to evaluate houses only. It does not include co-ops, condos, multiunit buildings and TICs.
  •  Case-Shiller not only includes total housing prices but also the price trend is being divided to three tiers – low, middle & high which divides the overall sales number to thirds.
  •  Case-Shiller Indices covers approximately half the homes in United States. Index evaluates the prices of homes in comparison to that of January 2000 and generates a 3-month moving average.

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