US September Case-Shiller 20-city house price index +2.10% y/y vs +2.01% expected

House price index data from S&P CoreLogic Case-Shiller:

• Prior was +2.03% y/y
• Prices up 0.36% m/m vs +0.30% exp
• National prices +3.22% vs +3.25% expected

Note that national prices continue to outpace the 20-city index. There's a subtle and likely secular shift away from the largest US housing markets and into secondary cities among those who have been priced out, those who are retiring and those who are looking for a chance. Prices in New York, Chicago and LA are under pressure.