The S&P Case-Shiller Home Price Index has been tracking home prices for more than 30 years and are considered among the leading measures of U.S. home values. According to the latest release – which contains data through the end of June – home prices are up 4.3% over last year at the same time.
Rising Prices, Slower Pace
But while prices continue to increase, they are doing so at a slower pace. In fact, June’s increase was flat from the month before and both the 10- and 20-City Composites saw declines. Craig J. Lazzara, managing director at S&P Dow Jones Indices, says prices are stable, but the long-term trend remains to be seen. “Housing prices were stable in June,” Lazzara said. “The National Composite Home Price Index rose by 4.3% in June 2020, as it had also done in May … More data will be required to understand whether the market resumes its previous path of accelerating prices, continues to decelerate or remains stable. That said, it’s important to bear in mind that deceleration is quite different from an environment in which prices actually fall.” According to the data, Phoenix, Seattle, and Tampa saw the biggest price gains year-over-year. Find out more by clicking on the link (source).
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