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S&P Analysts: Accelerating Home Prices Reflect Economic Recovery
Tuesday, April 27, 2021
A month after interest rates began to rise, neither the S&P CoreLogic Case-Shiller indices nor that from the Federal Housing Finance Agency (FHFA) found any slowdown in home price appreciation. Both logged double digit annual increases, in all cases higher than those in January. The Case-Shiller National Home Price Index, which covers all nine U.S. census divisions, rose 12.0 percent in February compared to an annual increase of 11.2 percent in January. On a month-over-month basis the National Index was up 1.1 percent before and after seasonal adjustment. The 10-City Composite Index gained 11.7 percent and the 20-City index was 11.9 percent higher than a year earlier. The annual increases in the two composites in January were 10.9 percent and 11.1 percent, respectively. the 10-City and 20-City Composites posted increases of 1.1 percent and 1.2 percent respectively from January for both their adjusted and non-adjusted indices.
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