S&P CoreLogic Case-Shiller Index Shows 19.8% Annual Home Price Gain in February ’22
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 19.8% annual gain for February, 2022, the third-highest reading in 35 years of their history. Their 10-City Composite annual increase came in at 18.6% and their 20-City Composite posted a 20.2% year-over-year gain.
“The macroeconomic environment is evolving rapidly and may not support extraordinary home price growth for much longer. The post-COVID resumption of general economic activity has stoked inflation, and the Federal Reserve has begun to increase interest rates in response. We may soon begin to see the impact of increasing mortgage rates on home prices.” Said Craig J. Lazzara, Managing Director at S&P DJI.
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