Steel Markets
May 26, 2020
Home Price Growth Not Deterred by Pandemic
Written by Sandy Williams
Home prices rose 4.4 percent in March compared to a year ago and 4.2 percent from February, according to the latest S&P Core Logic Case Shiller Index.
The 20-City Composite edged up 3.9 percent from 3.5 percent in February. The Composite was short one city, Detroit, due to reporting delays related to the COVID-19 pandemic.
“March’s data witnessed the first impact of the Covid-19 pandemic on the S&P CoreLogic Case-Shiller Indices,” said Craig Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices. “That said, housing prices continue to be remarkably stable.”
The March increases continued a trend of gently accelerating home prices that began last autumn., he added. “March results were broad-based. Prices rose in each of the 19 cities for which we have reported data, and price increases accelerated in 17 cities.”
Phoenix, Seattle and Charlotte had the highest year-over-year gains at 8.2 percent, 6.9 percent and 5.8 percent, respectively.
