• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Home prices up 20%, but buyers, take heart

The year-over-year rise in home prices was just below the 19.8 percent annual rise in August. (iStock)
The year-over-year rise in home prices was just below the 19.8 percent annual rise in August. (iStock)

U.S. home prices remain significantly higher than a year ago, but the growth is easing and perhaps even ending, according to new figures.

U.S. home prices increased 19.5 percent year-over-year in September, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index released Tuesday. The year-over-year rise in home prices was just below the 19.8 percent annual rise in August.

“If I had to choose only one word to describe September 2021’s housing price data, the word would be ‘deceleration,’” said Craig Lazzara, managing director at S&P Dow Jones Indices.

Read more
  • As housing price growth plateaus, Shiller warns buyers of “bumpy” ride
  • U.S. home prices surge 14.6% in April, shattering records (again)
  • All the way up: Home price growth broke record for 4th straight month in July

September’s modest decrease in price growth compared to August is another indicator of slowing growth for buyers and sellers after four straight months of record-setting, increasing growth.

Two other Case-Shiller indices told a similar story. The 10-city composite rose by 17.8 percent on an annual basis, less than the 18.6 percent growth year-over-year in August. The 20-city composite rose by 19.1 percent, less than August’s 19.6 percent.

Month-over-month, the national index increased 1 percent before seasonal adjustment and 1.2 percent after seasonal adjustment. All metro areas in the 20-city index reported month-over-month increases after seasonal adjustments.

Lazzara pointed to buyers’ responses to the coronavirus pandemic as a reason for the housing market’s rise. But he said he is awaiting more data to determine if homebuying plans accelerated or location preferences have changed.

In September, Phoenix saw the highest year-over-year gain in home prices for the 28th consecutive month: 33.1 percent. Tampa placed second with 27.7 percent growth year-over-year, while Miami was third with a 25.2 percent rise.

The South (24.3 percent) and Sun Belt (24.2 percent) saw the strongest price growth among regions, all of which reported double-digit gains.

In total, Case-Shiller’s National Index is 46.9 percent higher than its previous peak in July 2006. The 10-city composite is 27.8 percent higher than the old peak, while the 20-city composite is 34.2 percent above its former apex.

[contact-form-7 404 "Not Found"]

The post Home prices up 20%, but buyers, take heart appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 30 November 2021
  • The Real Deal
  • Uncategorized
  •  Like
Musk could save $2B in California taxes on Texas move →← On again, off again, down again for Bel-Air mansion
  • Recent Posts

    • Mayor Karen Bass blasts everyone but herself for wildfire mishandling May 7, 2025
    • WEA, Beverly Hills Estates cut deal on $27M Malibu Colony home May 7, 2025
    • Oil firm eyes homes, hotel near Bolsa Chica wetlands in Huntington Beach May 7, 2025
    • Bankrupt Rite Aid to market 1.3K stores, including dozens in LA County May 7, 2025
    • Carolwood flexes with new LA pocket listings portal, boasting $1B+ in inventory May 7, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM