Home Prices Hit Sixth All-Time High

Home prices hit yet another all-time high as tight inventory keeps competition elevated. Prices were up 6.5% YOY in March, on par with the month prior and the sixth record high reached in the last year, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.  Month-over-month, national prices rose 0.3% after seasonal adjustment, while the 20-City Composite and the 10-City Composite registered gains of 0.3% and 0.5%, respectively. Monthly prices were cooling at the end of 2023 into 2024, but increased demand and still-tight inventory have turned that trend around. Despite high interest rates, the lack of homes on the market has kept competition booming for well-priced listings. “Regionally, the Northeast remains the top performer with an 8.3%…

Home Prices Soared To Another Record High In February

Annual home price appreciation continued its upward trend in February, accelerating on both an annual and monthly basis. Prices were up 6.4% YOY, an increase from January’s 6% gain and the fastest annual rate since November 2022, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.  Month-over-month data showed prices on an upswing for the first time since October 2024. The National Index, 20-City Composite, and the 10-City Composite registered gains of 0.6%, 0.9% and 1.0%, respectively. Monthly prices were cooling at the end of 2023 into 2024, but increased demand and still-tight inventory have turned that trend around. Home prices are now “at or near all-time highs,” according to Brian D. Luke, Head of Commodities, Real &…

House Price Appreciation Up Annually, Trending Down Monthly

Annual home price appreciation continued its upward trend in January, though signs of moderation are shining through on a monthly basis. Prices were up 6% YOY, an increase from December’s 5.6% gain and the fastest annual rate since 2022, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index.  San Diego once again reported the highest annual gains at 11.2%, followed by Los Angeles with an 8.6% increase. Portland showed a 0.9% increase, the smallest YOY growth. This is the second straight month of price growth in every city analyzed, putting U.S. home prices at a new all-time high, breaking every record set last year. “While there is a large disparity between leaders such as San Diego versus laggards…

Home Prices Ended 9-Month Upward Streak In November

Home prices slipped in November, breaking a nine-month streak of gains, but were up year-over-year. Prices were down 0.2% month-over-month from the month prior, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. This was the first monthly dip since January 2023. This was partly the result of mortgage rates spiking to peaks of nearly 8% in October 2023, driving demand down and forcing sellers to adjust their profit expectations. “The house price decline came at a time when mortgage rates peaked, with the average Freddie Mac 30-year fixed rate mortgage nearing 8%, according to Federal Reserve data. The rate has since fallen over 1%, which could support further annual gains in home prices,” Brian D. Luke, Head…

Home Prices Soar For Eighth Straight Month

Home prices hit another record high in September as stock shortages spurred competition for well-priced homes. Year-over-year, prices rose 3.8%, up from 2.5% in August, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. Prices were up 0.3% month-over-month before seasonal adjustment and 0.7% after. This is the eight straight month of increases. Prices were up month-over-month in 15 of 20 cities, and both the 10- and 20-city composites analyzed saw prices exceed both their year-ago and January levels.  The National Composite surpassed its previous record high with this data, and ten individual cities hit record-breaking prices. “On a year-to-date basis, the National Composite has risen 6.1%, which is well above the median full calendar year increase in…

Home Prices Spiked Again In August

Data released today shows home price gains improved in August both annually and month-over-month. Year-over-year, prices rose 2.6%, up from 1% in July, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. Prices were up 0.4% month-over-month before seasonal adjustment and 0.9% after. This is the seventh consecutive month of increases. Home prices are now at all-time highs in the two composites and seven stand-alone cities, and prices rose in 19 of 20 cities after seasonal adjustment (13 of them before adjustment, as well). The National Composite surpassed its previous record high with this data. Craig Lazzara, managing director at S&P DJI, noted that regional differences remain “substantial.” “On a year-over-year basis, the three best-performing metropolitan areas in…

Home Prices Heat Up

Data released today shows annual home price gains were stagnant in June but continue heating up in the short term, with month-over-month prices rising. Year-over-year, prices remained unchanged after slipping 0.4% the prior month, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. Prices were up 0.9% month-over-month before seasonal adjustment and 0.7% after. This is the fifth consecutive month of increases. Home prices are now at all-time highs in half the cities analyzed, and the National Composite sits just 0.2% below its all-time high from last year. Craig J. Lazzara, managing director at S&P DJI, noted that regional differences remain “striking.” The West Coast hubs that saw a huge migration during the pandemic performed the worst (-5.9%).…

Home Prices Slipped YoY But Rise Monthly

Data released today shows national home prices slipped year-over-year in May but continue heating up in the short term, with month-over-month prices rising. Year-over-year, prices fell by 0.5%, down from -0.1% the prior month, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. The 20-City Composite posted a -1.7% year-over-year decline, unchanged from the month prior, as home prices have recently seen a boost. Craig J. Lazzara, managing director at S&P DJI, noted that regional differences are still “striking,” with the West Coast hubs that saw huge migration during the pandemic having the weakest growth. The Southeast (+2.1%) continues to see strong growth, though this month its top-performer crown was stolen by the Midwest (+2.7%). Looking at cities,…

Home Price Declines May Be Over

Data released today shows a modest increase in home prices took place in March, signaling that home price declines may be over. Year-over-year, prices increased by 0.7%, down from 2.1% in the prior month, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. The 20-City Composite posted a -1.1% year-over-year decline, down from a 0.4% gain in the previous month. “The modest increases in home prices we saw a month ago accelerated in March 2023,” Craig J. Lazzara, managing director at S&P DJI, said. “Two months of increasing prices do not a definitive recovery make, but March’s results suggest that the decline in home prices that began in June 2022 may have come to an end.” Lazzara added…

Home Prices Moderated In February

Data released today shows a modest increase in home prices took place in February. Year-over-year, prices increased by 2%, down from 3.7% in the previous month, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. The 20-City Composite posted a 0.4% year-over-year gain, down from 2.6% in the previous month. “February’s results were most interesting because of their stark regional differences… It’s unsurprising that the Southeast (+7.8%) remains the country’s strongest region, while the West (-4.2%) continues as the weakest,” noted Craig J. Lazzara, Managing Director at S&P DJI. West Coast hubs that saw huge migration during the pandemic remained negative YOY in February, with San Francisco, Seattle, San Diego, and Portland all experiencing declines. Southern cities continued…