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U.S. Housing Prices Set Another Record for Annual Growth
Housing prices once again posted record-high year-over-year increases, according to the latest S&P CoreLogic Case-Shiller indices, released Tuesday. The National index, covering all nine U.S. census divisions, reported a 16.6% annual gain in May, up from a record-setting 14.8% in the previous month.
The 10-City Composite annual increase came in at 16.4%, up from 14.5% in the previous month. The 20-City Composite posted a 17.0% Y-O-Y gain, up from 15.0% in the previous month.
“A month ago, I described April’s performance as ‘truly extraordinary,’ and this month I find myself running out of superlatives,” said Craig J. Lazzara, global head of index investment strategy at S&P Dow Jones Indices.
Phoenix, San Diego, and Seattle reported the highest Y-O-Y gains among the 20 cities in May. All 20 cities reported higher price increases in the year ending May 2021 versus the year ending April 2021.
- ◦Economy
