Appreciation Number Updated

The latest S&P / Case-Shiller® Home Price Index® numbers were published today. They cover home sales during the period from May to July 2020.

Comparing with the previous month's series we see the following changes:

1. Portland +1.32%
2. Cleveland +1.27%
3. Los Angeles +1.14%
4. San Diego +1.07%
5. Boston +1.02%
6. Phoenix +0.88%
7. San Francisco +0.87%
8. Washington +0.82%
9. Charlotte +0.59%
10. Seattle +0.59%
11. Las Vegas +0.58%
12. Tampa +0.56%
13. Chicago +0.53%
14. Minneapolis +0.53%
15. Atlanta +0.51%
16. Miami +0.45%
17. Denver +0.38%
18. Dallas +0.36%
19. New York -0.14%

The national average was +0.78% so Phoenix home prices increased at a higher rate than the national average, but slipped from 3rd to 6th place compared with last month..

The year over year comparisons are below:

1. Phoenix 9.2%
2. Seattle 7.0%
3. Charlotte 6.0%
4. Tampa 5.9%
5. San Diego 5.5%
6. Cleveland 5.5%
7. Los Angeles 5.3%
8. Minneapolis 5.2%
9. Portland 5.0%
10. Atlanta 4.8%
11. Denver 4.4%
12. Washington 4.4%
13. Boston 4.4%
14. Miami 4.1%
15. Las Vegas 3.3%
16. Dallas 3.2%
17. San Francisco 2.5%
18. New York 1.3%
19. Chicago 0.8%

The national average was 4.8%. Phoenix remains well out in front of the annual measurement.

________________

We always have to footnote that the Case-Shiller® Home Price Index is a 3-month look back. So the 'national average' of 4.8% is July data.

Given the most recent appreciation numbers in our market, while the relative city data is instructive, it would be even more robust if it were current.