Home prices increased 19.2% year-over-year in January, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. It was the fourth-largest reading in 35 years.
Home prices increased 19.2% year-over-year in January, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. It was the fourth-largest reading in 35 years.
Home prices increased from a 18.9% annual gain recorded in December. The 10-City Composite annual increase in January was 17.5%, and the 20-City Composite annual increase was 19.1%.
“Last fall we observed that home prices, although continuing to rise quite sharply, had begun to decelerate. Even that modest deceleration was on pause in January,” S&P spokesperson Craig Lazzara said in a statement. “The strength in home prices continues to be very broadly based. All 20 cities saw price increases in January 2022, with prices in 16 cities accelerating relative to December’s report.”
Phoenix, Tampa and Miami reported the highest year-over-year home price gains among the 20 cities in January, surging 32.6%, 30.8% and 28.1%, respectively.
The full report can be found here.