Home Prices Rose 19.8% in February, Says Case-Shiller
New York, NY, April 26, 2022-Home prices made a 19.8% annual gain in February, up from 19.1% in the previous month, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported.
The Ten-City Composite annual increase came in at 18.6%, up from 17.3% in the previous month. The 20-City Composite posted a 20.2% year-over-year gain, up from 18.9% in the previous month.
Phoenix, Tampa, and Miami reported the highest year-over-year gains among the 20 cities in February. Phoenix led the way with a 32.9% year-over-year price increase, followed by Tampa with a 32.6% increase and Miami with a 29.7% increase. All 20 cities reported higher price increase in the year ending February 2022 versus the year ending January 2022.
Before seasonal adjustment, the U.S. National Index posted a 1.7% month-over-month increase in February, while the Ten-City and 20-City Composites both posted increases of 2.4%.
After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.9%, and the Ten-City and 20-City Composites both posted increases of 2.3% and 2.4%, respectively.