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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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