Home price appreciation ticked back up to end the year according to the latest S&P CoreLogic Case-Shiller Index…(Case-Shiller)
- Y-O-Y: The U.S. National Home Price Index held at 18.8% year-over-year growth while the 10-City and 20-City composites saw a slight uptick to 17.0%(+0.1%) and 18.6%(+0.3%), respectively.
- M-O-M: The National Index was up 0.9% month-over-month while the 10-City and 20-City composites also saw an uptick of 1.0% and 1.1%, respectively.
NOTE: This is the highest calendar-year increase in 34 years of data, and substantially ahead of the 2020’s 10.4% gain.
Phoenix, AZ continues to lead all markets with 32.5% year-over-year home price appreciation…
- Tampa came in second with home prices up 29.4% and Miami was number three at 27.3%.
Craig J. Lazzara, Managing Director at S&P DJI, noted that the slight deceleration we recently saw has ended…
- “We have noted that for the past several months, home prices have been rising at a very high, but decelerating rate. The deceleration paused in December, as year-over-year changes in all three composite indices were slightly ahead of their November levels. December’s 18.8% gain for the National Composite is the fifth-highest reading in history…
Home prices were up in the fourth quarter of 2021, according to the latest data from the FHFA’s Home Price Index…(FHFA)
Y-O-Y: Home prices were up 17.5% when compared to the fourth quarter of 2020.
Q-O-Q: Home prices were up 3.3% when compared to Q3 of 2021.
Home prices were up in all 50 states with Arizona leading the pack with 27.4% year-over-year appreciation…
- Utah came in second at 27.1% followed by Idaho (+27.0%), Florida (+25.6%), and Tennessee (+24.1%).
NOTE: D.C. saw the smallest price appreciation with prices up just 6.6% in 2021.
The Mountain region led all regions with 23.10% year-over-year appreciation in 2021…
- The South Atlantic came in second with 20.21% price appreciation and the Pacific was number three at 19.42%.