U.S. Home Prices Post Highest Annual Gain on Record

Article originally posted on HERE on July 6, 2021

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 14.6% annual gain in April, up from 13.3% in the previous month. The 10-City Composite annual increase came in at 14.4%, up from 12.9% in the previous month. The 20-City Composite posted a 14.9% year-over-year gain, up from 13.4% in March.

“April’s performance was truly extraordinary,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices. “The 14.6% gain in the National Composite is literally the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data.

“We have previously suggested that the strength in the U.S. housing market is being driven in part by reaction to the COVID pandemic, as potential buyers move from urban apartments to suburban homes,” he continued. “April’s data continue to be consistent with this hypothesis.”

 

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