U.S. Home Prices Post 19.2% Year-Over-Year Gain in January 2022

According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. Census divisions, reported today (3-29-22) that home prices experienced a 19.2% annual gain in January (following a 18.9% annual gain in December, the same as in November, but down from a 19.0% annual gain in October).

The 10-City Composite annual increase in January came in at 17.5%, up from 17.1% in December. The 20-City Composite posted a 19.1% year-over-year gain, up from 18.6% in the previous month.

The highest year-over-year gains among the 20 cities in January was led by Phoenix with a 32.6% year-over-year price increase, followed by Tampa with a 30.8% increase and Miami with a 28.1% increase. Sixteen of the 20 cities reported higher price increases in the year ending January 2022 versus the year ending in December 2021.

The U.S. National Index, before seasonal adjustment, posted a 1.1% month-over-month increase in January, while the 10-City Composite and 20-City Composites both posted increases of 1.4%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.6%, and the 10-City and 20-City Composites both posted increases of 1.8%. In January, all 20 cities reported increases before and after seasonal adjustments.