Key Points:
- The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 6.5% in the year that ended in March, the same reading as February.
- The 20-City Composite posted a year-over-year increase of 7.4%, up from a 7.3% increase in the previous month.
- The 10-City Composite showed an increase of 8.2%, up from a 8.1% increase in the previous month.
- San Diego continued to report the highest year-over-year gain among the 20 cities this month with an 11.1% increase in March, followed by New York and Cleveland, with increases of 9.2% and 8.8%, respectively.
- Denver, which still holds the lowest rank after reporting three consecutive months of the smallest year-over-year growth, posted the same 2.1% annual increase in March as the previous month.
- “This month’s report boasts another all-time high,” says Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices. “We’ve witnessed records repeatedly break in both stock and housing markets over the past year.
- The Right Facts will continue to monitor home prices.