By now, just about everyone knows home prices rose in 2021. Even if you weren’t shopping for a home last year, you probably came across a headline or news story covering the accelerated pace of price increases. What you may not know, though, is how the home prices climbed to record highs. New numbers from the S&P Case-Shiller Home Price Indices give us a better idea of the sharp rises.
Home Prices Breaking Record Numbers
According to their most recent release, prices nationwide posted an 18.8 percent increase last year. Craig J. Lazzara, managing director at S&P, says it was the highest in decades. “For the year, the National Composite Index recorded a gain of 18.8 percent,” Lazzara said. “This is the highest calendar year increase in 34 years of data, and substantially ahead of 2020’s 10.4 percent gain.” Fortunately, though 2021 was a record-breaking year for home values, this year’s outlook calls for a much slower rate of increase, as most experts believe the market will begin to balance and price increases will slow considerably. Click on link for more information.
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