Steel Markets
May 25, 2021
Home Prices Accelerate to Near Record Highs in March
Written by Sandy Williams
Home prices shot up 13.2% in March compared to the same month in 2020 and increased 12% from February. The S&P Core Logic Case-Shiller National Home Price Index reported double-digit gains for all 20 cities in the composite index except Chicago, which posted a 9% increase. Phoenix, San Diego and Seattle reported the highest year-over-year gains at 20%, 19.1%, and 18.3%, respectively.
“Housing prices continued to rise robustly in March 2021,” said Craig J. Lazzara, managing director and global head of index Investment strategy at S&P DJI. “More than 30 years of S&P CoreLogic Case-Shiller data put these results into historical context. The National Composite’s 13.2% gain was last exceeded more than 15 years ago in December 2005 and lies very comfortably in the top decile of historical performance.”
