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February 23, 2021US S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES, DECEMBER AND ANNUAL 2020 S&P Dow Jones Indices today released data for the S&P CoreLogic Case-Shiller Indices for December 2020.
Month over Month (Dec 2020 vs Nov 2020, seasonally adjusted)
S&P Dow Jones Indices reports that US national house prices, as measured by the S&P CoreLogic Case - Shiller Indices rose by 1.3% from the previous month. The 20-city composite average increased 1.3% while the 10-city composite average increased 1.2%.
Year over year (Dec 2020 vs Dec 2019, seasonally adjusted)
Compared with December 2019, national US house prices rose by 10.4%. The 20-city composite average rose by 10.1%. The 10-city composite rose by 9.8%.
Annual
US national house prices rose by 6.0% in 2020, the largest percentage increase since 2014. The 20-city composite average increased 5.4%. The 10-city composite rose by 4.9%.
In 2020, average house prices rose faster in Phoenix and Seattle and slower in Chicago and New York City.
Trends
Since bottoming out in 2012, US house prices have grown at a steady pace over the last 8 years. Canadian urban house price growth (measured by the Teranet-National Bank House Price Index) grew more rapidly starting in 2016. After a long period of slow growth, house prices in Halifax started to accelerate in 2019, rising to +16.3% growth from Dec 2019 to Dec 2020.
Notes: Data for Detroit are available only up to November. Year-over-year data for Detroit compare Nov 2020 with Nov 2019 while annual calculations compare Jan-Nov 2020 with Jan-Nov 2019.
The 20-City Composite Index includes Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa, and Washington DC. The 10-City Composite Index includes Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco, and Washington DC.
Source: S&P Dow Jones Indices
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