Home prices increased by 3.2% on a year-over-year (YOY) basis in August, according to the Case-Shiller Home Price Index. Phoenix showed the highest gain with a 6.3% increase followed by Charlotte and Tampa which ranked second and third, respectively among the 20-cities surveyed.
According to Philip Murphy, Managing Director and Global Head Index Governance at S&P Dow Jones Indices, “San Francisco was the only city to record a negative YOY price change (-0.1%).”