Home Prices Are Soaring

The housing market is hot. Today’s Case-Shiller report shows that home prices rose at an annualized rate of 14.6% in the 12 months end in April. That’s fastest in 30 years of data. It’s an increase from 13.3% for the 12 months ending in March.

Phoenix, San Diego, and Seattle reported the highest year-over-year gains. All were up over 20% from the year before.

“April’s performance was truly extraordinary. The 14.6% gain in the National Composite is literally the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data,” said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI.

Not only did home prices rise in all 20 cities, but the price gains accelerated in all as well and were in the top quartile of performance historically.

Five cities – Charlotte, Cleveland, Dallas, Denver and Seattle – saw their largest annual gains ever.

Posted by on June 29th, 2021 at 10:06 am


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