Home price gains continued strong in January with the S&P/Case-Shiller indices closely tracking three of the four other major January home price reports. Case-Shiller’s National Home Price Index which covers all nine U.S. census divisions rose 5.4 percent from January 2015 to January 2016 the same year-over-year increase as reported in December. The National Index was unchanged from December on an unadjusted basis but when seasonally adjusted the index rose 0.5 percent.
Earlier the Federal Housing Finance Agency (FHFA) had put the monthly increase in its purchase only House Price Index at 0.5 percent and the yearly gain slightly higher than Case-Shiller at 6.0 percent and Black Knight Financial Services reported increases of 0.1 percent and 5.3 percent respectively. CoreLogic’s index was an outlier with a 1.4 percent monthly increase in January and a 6.9 percent year-over-year gain.
Case-Shiller’s 10-City Composite Index rose 5.1 percent for the year and the 20-City Composite was up 5.7 percent. Each index was also unchanged on an unadjusted monthly basis but the 10-City rose 0.8 percent and the 20-City was up 0.7 percent when seasonally adjusted.