Home Prices Rose 12% YOY in February, Says Case-Shiller
New York, NY, April 27, 2021-Home prices made a 12.0% annual gain in February, up from 11.2% in the previous month, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions.
The Ten-City Composite annual increase came in at 11.7%, up from 10.9% in the previous month. The 20-City Composite posted an 11.9% year-over-year gain, up from 11.1% in the previous month.
Phoenix, San Diego, and Seattle reported the highest year-over-year gains among the 20 cities in February. Phoenix led the way with a 17.4% year-over-year price increase, followed by San Diego with a 17.0% increase and Seattle with a 15.4% increase. Nineteen of the 20 cities reported higher price increases in the year ending February 2021 versus the year ending January 2021.
Before seasonal adjustment, the U.S. National Index posted an 1.1% month-over-month increase, while the Ten-City and 20-City Composites both posted increases of 1.1% and 1.2% respectively in February.
After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.1%, and the Ten-City and 20-City Composites both posted increases of 1.1% and 1.2% respectively as well. In February, all 20 cities reported increases before and after seasonal adjustments.