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May 25, 2021US S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES, MARCH 2021 S&P Dow Jones Indices today released data for the S&P CoreLogic Case-Shiller Indices for March 2021.
Month over Month (Mar 2021 vs Feb 2021, 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 1.5% from the previous month. The 20-city composite average rose by 1.6% while the 10-city composite rose by 1.4%.
Housing prices were up for all 20 major urban centres. Phoenix, Seattle and San Diego reported the largest gains. Detroit, Minneapolis and New York City reported the smallest declines.
Year over year (Mar 2021 vs Mar 2020, seasonally adjusted)
Compared with March 2020, national US house prices rose by 13.2%. National US house prices rose by 13.2%. The 20-city composite average rose by 13.2% while the 10-city composite rose by 12.8%.
Housing prices were up for all 20 major urban centres. Phoenix, San Diego and Seattle reported the largest gains. Minneapolis, Las Vegas and Chicago reported the smallest declines.
Year to date (Jan-Mar 2021 vs Jan-Mar 2020, seasonally adjusted)
US national house prices rose by 12.1% compared to the same period last year. The 20-city composite average rose by 12.1% while the 10-city composite rose by 11.8%.
Housing prices were up for all 20 major urban centres. Phoenix, San Diego and Seattle reported the largest gains. Atlanta, Las Vegas and Chicago reported the smallest declines.
Trends and Comparions
After bottoming out in 2012, US house grew at a steady pace up to 2020 before accelerating in 2021. Canadian urban house price growth (measured by the Teranet-National Bank House Price Index) grew more rapidly starting in 2016 and accelerated again in 2020. After a long period of slow growth, house prices in Halifax started to accelerate in 2019, rising to +26.8% growth from Apr 2020 to Apr 2021.
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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