Home prices increased 10.4% in December, up from 9.5% reported in November, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
It’s the seventh straight month of accelerating prices.
“As COVID-related restrictions began to grip the economy in early 2020, their effect on housing prices was unclear,” S&P Spokesperson Craig Lazzara stated. “Price growth decelerated in May and June, and then began a steady climb upward, and December’s report continues that acceleration in an emphatic manner.”
The 10-City Composite annual increase was 9.8% (up from 8.9%) and the 20-City Composite grew 10.1% (up from 9.2%).
Phoenix, Seattle and San Diego reported the highest year-over-year gains among the 19 cities, growing 14.4%, 13.6% and 13.0%, respectively.
The full report can be found here.
