Keeping you up to date on the latest data releases.
Growth in the S&P/Case-Shiller 10-city Home Price Index slowed in February, inching up just 0.1 percent after a 0.4 percent increase in January. Meanwhile, the 20-city index pulled back a slight 0.1 percent, breaking the solid streak of gains that started in June 2009. While the February data represent a mild cool-down in progress made over the past eight months or so, the numbers are not so drab as to dampen the indexes’ year-over-year growth. Growth in the 10-city index since last February came in at 1.4 percent and growth in the 20-city index was 0.6 percent, both positive for the first time since December 2006 and up from troughs of nearly −20 percent a little over a year ago.
The picture from the perspective of FHFA Purchase-Only House Price Index has looked quite different from that of the S&P/Case-Shiller index in recent months. The FHFA index retreated a slight 0.2 percent in February, tacking on the smallest of three consecutive declines. Year-over-year growth, which had a brief positive stint last November, dipped further to −3.4 percent in February. Of all nine U.S. regions tracked by the FHFA, only the West South Central (Oklahoma, Arkansas, Texas, Louisiana) and Pacific (Hawaii, Alaska, Washington, Oregon, California) regions have seen home prices grow over the last year.