U.S. Home Prices Post Annual Gain of 18.8% in 2021

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 (2-22-22) that home prices experienced a 18.8% annual gain in December. This matches the gain in November, but is down from a 19.0% annual gain in October and a 19.7% annual gain in September 2021.

The 10-City Composite annual increase came in at 17.0%, up from 16.9% in the previous month. The 20-City Composite posted an 18.6% year-over-year gain, up from 18.3% in the previous month.

The highest year-over-year gains among the 20 cities in December was led by Phoenix with a 32.5% year-over-year price increase, followed by Tampa with a 29.4% increase and Miami with a 27.3% increase. Fifteen of the 20 cities reported higher price increases in the year ending December 2021 versus the year ending November 2021

The U.S. National Index, before seasonal adjustment, posted a 0.9% month-over-month increase in December, while the 10-City Composite posted a 1% increase, and 20-City Composites posted an increase of 1.1%. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.3%, and the 10-City and 20-City Composites posted increases of 1.4% and 1.5%, respectively. In December, all 20 cities reported increases before and after seasonal adjustments