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The Home Price Recovery Is Broad Based

Housing market conditions differ from one location to the next. It’s true within metro areas and certainly from state to state. Buyers in California, for example, will most likely encounter a different dynamic than buyers in Ohio. That’s common knowledge. But while conditions can definitely vary by location, the latest results from the S&P Case-Shiller Home Price Indices, show home prices are climbing almost everywhere. “The ongoing recovery in home prices is broadly based,” Craig J. Lazzara, managing director at S&P, says. “Home prices peaked in June 2022, declined until January 2023, and then began to recover.” According to Lazzara, S&P’s National Composite index rose 1.3 percent in April (repeating March’s performance), and now stands 2.4 percent below its June 2022 peak. The indices – considered among the leading measures of U.S. home prices – not only found national numbers just below last year’s high, they also show month-over-month increases in all 20 major metropolitan markets included in the report. (source)

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