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.
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.