According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index report, which covers all nine U.S. Census divisions, home prices gained 11.2% in January (on an annual basis), up from 10.4% increase in December 2020. The 10-City Composite annual increase came in at 10.9%, up from 9.9% in the previous month. The 20-City Composite posted a 11.1% year-over-year gain, up from 10.2% in the previous month. Leading the markets higher in the top 19 cities (excluding Detroit), were Phoenix with a year-over-year increase of 15.8%, followed by Seattle with a 14.3% increase and San Diego with a 14.2% increase. All 19 cities reported higher price increases in the year ending January 2021 versus the year ending December 2020. In comments prepared for the release of the report Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI, said, “January’s performance is particularly impressive in historical context. The National Composite’s 11.2% gain is the highest recorded since February 2006, just one month shy of 15 years ago. In more than 30 years of S&P CoreLogic Case-Shiller data, January’s year-over-year change is comfortably in the top decile. That strength is reflected across all 20 cities. January’s price gains in every city are above that city’s median level, and rank in the top quartile of all reports in 18 cities.”
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S&P CORELOGIC CASE-SHILLER INDEX REPORTS 11.2% ANNUAL HOME PRICE GAIN TO START 2021