The S&P CoreLogic™ Case-Shiller Index Reports Home Prices Accelerated in March

According to the S&P CoreLogic™ Case-Shiller Index, home prices were accelerating, just as the country began shutting down to slow the pace of the COVID-19 pandemic. On a national level home price rose 4.4% annually, up from 4.2% in February. Prices are still being buoyed by a severe lack of homes for sale. There was already a shortage going into the COVID-19 crisis, but then sellers began delisting their properties, and potential sellers decided to wait. The 10-City Composite rose 3.4% annually, up from 3% in the previous month. The 20-City composite increased 3.9%, up from 3.5% in February. Due to reporting delays related to the pandemic, only 19 cities are included. Detroit’s price numbers were unavailable.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.