Home Price Index Hits A New All-Time High

The S&P Case-Shiller Home Price Index is among the most closely watched measures of U.S. home prices. The index covers all nine census divisions and has been collecting data for nearly 30 years. According to the most recent release, home prices are climbing and have now made up for the declines that began last summer. Craig J. Lazzara, managing director at S&P, says the rebound has been broad based. “We have previously noted that home prices peaked in June 2022 and fell through January 2023, declining 5 percent in those seven months,” Lazzara said. “The increase in prices that began in January has now erased the earlier decline, so that July represents a new all-time high for the National Composite. Moreover, this recovery in home prices is broadly based.” Still, regional differences remain, with prices up most in the Chicago, Cleveland, and New York metro areas, while Las Vegas and Phoenix saw year-over-year declines. (source)

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