The S&P CoreLogic Case-Shiller Index, the leading measure of U.S. home prices, has just released the August report, highlighting a consistent rate in annual home price gains.
According to the Index, August saw a 19.8 percent annual gain remaining the same as the previous month. The 10-City Composite annual increase came in at 18.6 percent, down from 19.2 percent in July. The 20-City Composite posted a 19.7 percent year-over-year gain, also down slightly from 20 percent in the previous month.
As we’ve previously reported, San Diego, Phoenix and Tampa have been seeing record gains this year—a trend that continued in August. The three cities once again posted the highest year-over-year gains among the 20 cities in August.
Phoenix led with a 33.3 percent year-over-year price increase, followed by San Diego at 26.2 percent increase and Tampa at 25.9 percent. According to the Index, eight of the top 20 cities reported higher price increases in the year ending August 2021 compared to the year ending July 2021.