Home prices increased 5.7% year-over-year in August, up from an annual gain of 4.8% in July, according to the S&P CoreLogic Case-Shiller Indices.
The 10-City Composite increased 4.7% (up from 3.5%), and the 20-City Composite grew 5.2% (up from 4.1%).
Phoenix, Seattle and San Diego reported the highest year-over-year home price gains among the 20 cities, growing 9.9%, 8.5% and 7.6%, respectively.
“The last time that the National Composite matched August’s 5.7% growth rate was 25 months ago, in July 2018,” S&P Dow Jones spokesperson Craig J. Lazzara said in a statement. “If future reports continue in this vein, we may soon be able to conclude that the COVID-related deceleration is behind us.”
Read Next
