Home Prices Hit Decade High

By: Gem Home Loans

The S&P Case-Shiller Home Price Indices has collected home price data for the past 30 years and is considered among the leading measures of U.S. home values. Their most recent release, which covers data through the end of 2020, shows last year’s home-price performance was one of the best in index history. Craig J. Lazzara, managing director and global head of index investment strategy at S&P, says prices have been accelerating since June of last year.

“As COVID-related restrictions began to grip the economy in early 2020, their effect on housing prices was unclear,” Lazzara said. “Price growth decelerated in May and June, and then began a steady climb upward, and December’s report continues that acceleration in an emphatic manner. 2020’s 10.4 percent gain marks the best performance of housing prices in a calendar year since 2013.” Phoenix, Seattle, and San Diego were the cities reporting the biggest year-over-year price gains – though all but one of the included metros reported price increases over the previous year. (source)

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