U.S. Home Prices Extend Streak of Record-Setting Annual Growth
U.S. home prices have done it again, setting another high-water mark for annual price gains. S&P Dow Jones Indices said Tuesday that the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 19.7% annual gain in July, up from 18.7% in June.
The 10-City Composite annual increase came in at 19.1%, up from 18.5% in the previous month. The 20-City Composite posted a 19.9% year-over-year gain, up from 19.1% in the previous month.
“July 2021 is the fourth consecutive month in which the growth rate of housing prices set a record,” said Craig J. Lazzara, global head of index investment strategy at S&P DJI. “July’s 19.7% price gain for the National Composite is the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data. This month, New York joined Boston, Charlotte, Cleveland, Dallas, Denver, and Seattle in recording their all-time highest 12-month gains. ”
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