After a short respite, home price growth sped up in January. The S&P CoreLogic Case-Shiller Index registered a 19.2% increase after four months of slowing or flat growth. This was the strongest January year-over-year increase since the beginning of the data series.
There were unexpected economic and financial twists in 2021, and the housing market experienced its fair share of surprises.
Persistently strong demand among traditional buyers has been amplified by an increase in demand from investors this summer, keeping the latest S&P CoreLogic Case-Shiller stalled at the previous month’s peak increase: up 19.8% year over year.
Despite concerning acceleration in home prices since last summer, consumers are still eager to buy, and an increasing share of homes are selling over the asking price. In May, S&P CoreLogic national Case-Shiller Index skyrocketed 16.6% year over year — keeping with the theme of reaching new highs in the past few months.
In April, the S&P CoreLogic national Case-Shiller Index jumped a remarkable 14.6% year over year — the highest rate since the beginning of the index series.
Home price growth momentum speeds up further in February, up 12% Strong acceleration of S&P CoreLogic Case-Shiller Index continued into early months of 2021 with