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 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…
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%).…
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 price appreciation continued to cool in August though growth remained elevated from a year earlier, according to new data. The S&P CoreLogic Case-Shiller National Home Price NSA Index saw home prices decelerate, posting a 13% annual gain in August, down from 15.6% in the previous month. This is the largest monthly deceleration in the history of the index, pushing July’s record to second place. Craig J. Lazzara, Managing Director at S&P DJI, called current trends a “forceful deceleration” of home prices. “These data show clearly that the growth rate of housing prices peaked in the spring of 2022 and has been declining ever since,” he said. “As the Federal Reserve moves interest rates higher, mortgage financing becomes more expensive…
Home prices decelerated in June as buyers left the market, driven by historically high prices and rising interest rates. Both the S&P CoreLogic Case-Shiller Indices and Federal Housing Finance Agency House Price Index (FHFA HPI) saw price growth moderate in June. The HPI saw prices rise only 0.1% from May, while Case-Shiller reported an 18% YOY gain in June, down from 19.9% in May. FHFA’s data suggests prices are just now beginning to moderate. From Q1 2022 to Q2, prices rose 17.7% YOY and 4% quarter-over-quarter, with the only deceleration appearing in June. “Housing prices grew quickly through most of the second quarter of 2022, but a deceleration has appeared in the June monthly data. The pace of growth has…
Housing prices set a record in February, up 19.4% YOY and 2.1% from January 2022, according to the Federal Housing Finance Agency’s (FHFA) latest House Price Index (HPI). Seasonally adjusted monthly house price changes from January to February ranged from +1.3% in the East North Central division to +2.9% in the South Atlantic division. The 12-month changes ranged from +15.3 percent in the East North Central division to +24.3 percent in the Mountain division. “House prices rose to set a new historical record in February,” said Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics. “Acceleration approached twice the monthly rate as seen a year ago. Housing prices continue to rise owing in part to supply constraints.”…
Home prices rose 17.5% year-over-year in Q4 2021 and 3.3% from Q3 2021, according to the Federal Housing Finance Agency’s House Price Index (FHFA HPI). Home prices were up 1.2% from November to December. Home prices increased in every state between Q4 2020 and Q4 2021, with the highest appreciation in Arizona (27.4%), Utah (27.1%), Idaho (27%), Florida (25.6%), and Tennessee (24.1%). Cape Coral-Fort Myers, FL, saw the greatest annual price increases. The metros with the least annual appreciation were Washington, D.C. (6.6%), Louisiana (10.2%), North Dakota (10.3%), Maryland (10.8%), and Alaska (11.3%). “House prices continued to climb but not as rapidly during the final quarter of 2021 as in earlier quarters,” said William Doerner, Ph.D., Supervisory Economist in FHFA’s…
Good Morning! Today is Wednesday, January 26. Federal prosecutors are reviewing fake Electoral College certifications that declared former President Donald Trump the winner of states that he lost. Former Boston Red Sox star David Ortiz has been elected to the National Baseball Hall of Fame. The Mortgage Note Reports House Price Index: House prices rose 1.1% nationwide in November, according to the latest FHFA House Price Index. HUNT COO: HUNT Mortgage Corporation has hired Bindiya Jain of Shrewsbury, Massachusetts as its Chief Operating Officer. And in other mortgage and housing news… The Fate Of Zillow: Zillow’s near-term fate “hinges upon a delicate market balance the likes of which we’ve never quite seen,” Laura Forman argues in the Wall Street Journal.…
