And the prices keep rising… The latest S&P CoreLogic Case-Schiller Home Price Index is out and with it news that home prices hit their fastest annual rate since 2022 in January. Covering all nine U.S. census divisions, the Index reported a 6 percent annual gain in January, up from a 5.6 percent rise in the previous month.
The 10- City Composite showed an increase of 7.4 percent, up from a 7 percent increase the previous month. The 20- City Composite posted a year-over-year increase of 6.6 percent, up from a 6.2 percent increase in the previous month.
San Diego again reported the highest year-over-year gain among the 20 cities with an 11.2 percent increase in January, followed by Los Angeles, with an increase of 8.6 percent. Portland, though holding the lowest rank after reporting the smallest year-over-year growth, retained an upward trend with a 0.9 percent increase this month.