January Home Prices See Fourth-Largest Annual Gain

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index for January is out—and it’s highlighting some huge gains for the housing market!

According to the data, home prices were up 19.2 percent nationally in January compared to a year prior. Prices were also up from 18.9 percent in December 2021.

The annual gain is the fourth-largest increase in the Indices history.

The 10-City Composite annual increase came in at 17.5 percent, up from 17.1 percent the month prior. The 20-City Composite was up 19.1 percent annually, and up from 18.6 percent from December.

It’s no surprise that Phoenix, Tampa and Miami continued to post the highest year-over-year gains among the 20 cities in January. Phoenix led the way with a 32.6 percent year-over-year price increase, followed by Tampa with a 30.8 percent increase and Miami with a 28.1 percent increase. 

Phoenix, Tampa and Miami have spent much of the pandemic leading the index in price increases.

Elsewhere, 16 of the 20 cities reported higher price increases in the year ending January 2022 versus the year ending December 2021.