Home appreciation continued its historic run in February according to the Case-Shiller CoreLogic index. (CS)
- Y-O-Y: The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 12.0% annual gain in February, up from 11.2% in the previous month.
- M-O-M: The U.S. National Index posted an 1.1% month-over-month increase
Case-Shiller wasn’t the only one showing 12% appreciation. FHFA actually showed over 12% growth in February, according to the latest Federal Housing Finance Agency House Price Index (FHFA)
- Y-O-Y: House prices rose 12.2% from February 2020 to February 2021
- M-O-M: Nationwide prices saw a 0.9% increase from the previous month
ANALYSIS: Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI, said in a statement that the, “12.0% gain is the highest recorded since February 2006, exactly 15 years ago, and lies comfortably in the top decile of historical performance.”
- Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics. “The 12.2 percent gain represents an increase of $35,000 for a median-priced home that sold a year ago at $290,000 in the Enterprises’ data.”
BIGGEST GAINS: Despite all the craziness in the South the areas with the biggest gains continue to be in The West. Case Shiller reported that Phoenix saw the biggest jump with a 17.4% increase which has held the top spot for the 21st consecutive month. San Diego was next best with 17.0% growth followed by Seattle with 15.4% appreciation.