Home Prices Continue to Rise
20-city price index: A 20.2% year-over-year gain in Feb; up from 18.9% in Jan. Tampa and Miami were in top 3 cities for highest rate of home-price growth.
NEW YORK – The S&P CoreLogic Case-Shiller 20-city price index posted a 20.2% year-over-year gain in February, up from 18.9% the previous month.
Meanwhile, the Case-Shiller national home price index increased 19.8% between February 2021 and February 2022. This represented the third-largest pace of home-price appreciation in the Case-Shiller report’s history.
As in previous months, Phoenix recorded the highest rate of home-price growth in February, with a 32.9% year-over-year increase, followed by Tampa (32.6%) and Miami (29.7%).
All 20 cities that the Case-Shiller report tracks not only recorded double-digit price growth in February but also a faster pace of growth than the month prior.
Meanwhile, the Federal Housing Finance Agency Housing Price Index found that prices rose 19.4% year over year in February and 2.1% from the previous month.
Source: MarketWatch (04/26/22) Passy, Jacob
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