Case-Shiller Home Price Index, February 2016
Today, Standard & Poor’s (S&P) released February 2016 values for its Case-Shiller Home Price Index, which tracks the prices of existing single-family homes in 20 U.S. metro areas. The index in each metropolitan area extends from a base value of 100 in January 2000. For example, Chicago’s February 2016 index value was 128.77 before seasonal adjustment; this translates to a 28.77 percent appreciation since January 2000 for a typical home in the Chicago market.
- All 20 cities tracked and both composite indices showed positive year-over-year returns. In Chicago, the index increased 1.8 percent from 126.44 in February 2015 to 128.77 in February 2016. This is similar to last month’s YOY growth rate of 2.1 percent.
- Chicago was among six cities that experienced negative monthly rates of change. Chicago’s February 2016 home price level decreased by 0.31 percent from the previous month, also falling behind the 10-City and 20-City Composites’ respective 0.12 and 0.19 percent growth rates.
- In a press release, Standard & Poor’s Index Committee Chairman David M. Blitzer observed that, ”Home prices continue to rise twice as fast as inflation, but the pace is easing off in the most recent numbers. The year-over-year figures for the 10-City and 20-City Composites both slowed and 13 of the 20 cities saw slower year-over-year numbers compared to last month.”
Source: S&P/Case-Shiller Home Price Indices
Note: The full press release and additional data can be found on the S&P website. Values reflect non-seasonally adjusted data, which are typically more appropriate for annual comparisons than monthly ones; however, due to heightened volatility in recent housing values that can skew the seasonal adjustments, S&P recommends using the non-seasonally adjusted numbers, even for month-to-month comparisons.
Chaired by Mayor Rahm Emanuel, World Business Chicago is the public-private partnership leading the Plan for Economic Growth and Jobs in order to drive business development, cultivate talent, and put Chicago at the forefront of the global economy.
WBC’s “Economic Briefs” track indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including unemployment, population, venture capital, job openings and new hires, home sales, tourism, etc. This data provides a clear analytic framework for specific Plan strategies and initiatives. For a summary of these and other economic indicators, refer to WBC’s monthly Chicago By The Numbers.
Chicago Mayor Lori E. Lightfoot & World Business Chicago Announce the Inaugural Chicago Venture Summit Future-of-Food
More than 600 founders, Fortune 500 leaders, and investors are attending Chicago’s flagship food innovation conference hosted by World Business Chicago. CHICAGO, May 26, 2022 – Chicago Mayor Lori
The Rattan L. Khosa SeedCon is Chicago Booth’s flagship entrepreneurship and venture capital conference. As the world seemed to stand still amidst the COVID-19 pandemic, investors, entrepreneurs, an
World Business Chicago Partners with Global Fintech Leader tastytrade for ThinkChicago Fintech Summit
“Innovation is the many years of study and analysis, which then finds itself in the path of an emerging opportunity” -Linwood Ma, tastytrade CTO World Business Chicago was proud to…
CBO Collective Announces $1 Million Grant from Google.org to Provide Job Placement and Support to Jobseekers from Under-Resourced Chicago Communities
CHICAGO — The Community Based Organization Collective today announced a $1 million grant from Google.org to help place hundreds of jobseekers on Chicago’s South and West sides into in-demand caree