Home Prices Rose 20.6% in March, Says Case-Shiller
New York, NY, May 31, 2022- Home prices made a 20.6% annual gain in March, up from 20.0% 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 19.5%, up from 18.7% in the previous month. The 20-City Composite posted a 21.2% year-over-year gain, up from 20.3% in the previous month.
Tampa, Phoenix, and Miami reported the highest year-over-year gains among the 20 cities in March. Tampa led the way with a 34.8% year-over-year price increase, followed by Phoenix with a 32.4% increase, and Miami with a 32.0% increase. Seventeen of the 20 cities reported higher price increases in the year ending March 2022 versus the year ending February 2022.
Before seasonal adjustment, the U.S. National Index posted a 2.6% month-over-month increase in March, while the Ten-City and 20-City Composites posted increases of 2.8% and 3.1%, respectively.
After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 2.1%, and the Ten-City and 20-City Composites posted increases of 2.2% and 2.4%, respectively.
In March, all 20 cities reported increases before and after seasonal adjustments.