March recorded the highest year-over-year home price change in more than 35 years of data, according to the latest S&P CoreLogic Case-Shiller Indices.
Home prices increased 20.6% year-over-year, up from a 20.0% annual gain recorded in February.
The 10-City Composite annual increase was 19.5%, and the 20-City Composite annual increase was 21.2%.
"The strength of the Composite indices suggests very broad strength in the housing market, which we continue to observe,” S&P spokesperson Craig Lazzara stated. “All 20 cities saw double-digit price increases for the 12 months ended in March, and price growth in 17 cities accelerated relative to February's report.”
Tampa, Phoenix and Miami reported the highest year-over-year home price gains, accelerating 34.8%, 32.4% and 32.0%, respectively.
