US House Prices Rise More than Expected

The S&P CoreLogic Case-Shiller 20-city home price index in the US went up 4.2% year-on-year in October 2024, more than market expectations of a 4.1% rise, following a 4.6% increase in the previous month.

New York again reported the highest annual gain among the 20 cities with a 7.3% increase in October, followed by Chicago and Las Vegas with annual increases of 6.2% and 5.9%, respectively.

Tampa posted the smallest year-over-year growth with 0.4%.

Compared to the previous month, the home price index declined 0.2%, after a 0.3% fall in September.

“New York once again reigns supreme as the fastest-growing housing market with annual returns over double the national average,” says Brian D.

Luke, CFA, Head of Commodities, Real & Digital Assets.

“Two markets have dominated the top ranks with New York leading all markets the past six months and San Diego the six months prior.

New York is the only market sitting at all-time highs and one of just three markets with gains on the month."