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NEW YORK, May 25, 2021 /PRNewswire/ S&P Dow Jones Indices (S&P DJI) today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for March 2021 show that home prices continue to increase across the U.S. More than 27 years of history are available for the data series, and can be accessed in full by going to https://www.spglobal.com/spdji/.
YEAR-OVER-YEAR
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 13.2% annual gain in March, up from 12.0% in the previous month. The 10-City Composite annual increase came in at 12.8%, up from 11.7% in the previous month. The 20-City Composite posted a 13.3% year-over-year gain, up from 12.0% in the previous month.
March home prices increased by 13.2 percent from a year ago, the largest gain since 2015.
Home prices have risen for 10 consecutive months and are climbing more rapidly with each month due to inventory shortages, according to the latest S&P/Case-Shiller U.S. National Home Price Index released Tuesday. Those gains are the highest they have been since December 2005. In February, year-over-year growth clocked in at 12 percent.
Only 1.16 million homes were on the market in April, a drop of 20 percent from the previous year. As in past months, Phoenix, San Diego and Seattle saw the greatest increases in home prices 20, 19.1 and 18.3 percent, respectively and no major city in the U.S. saw home prices drop.
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