Month-Over-Month Performance
The U.S. National Index, 20-City Composite, and 10-City Composite all showed slower growth rates. The National Index increased by 1.2%, the 20-City by 1.36%, and the 10-City by 1.38%. After adjusting for seasonal variations, the National Index and 10-City Composite both rose by 0.3%, while the 20-City Composite increased by 0.4%.
Analysis
Brian D. Luke of S&P Dow Jones Indices highlighted that the National Index has seen consecutive monthly increases of at least 1%, mirroring early 2023 trends. Thirteen markets are now at all-time highs, with San Diego showing the highest annual returns for the last six months. The Northeast has also been a strong performer, particularly New York, which saw a 9.4% annual increase. However, only half of the markets are currently accelerating in price gains, and the annual growth rate has decelerated from earlier in the year.
