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Record Housing Price Growth In The Last 15 Years

U.S. housing prices, according to March results, showed a maximum value, higher even than in 2005, according to the S&P Global Case-Schiller index and the Dow Jones (CoreLogic Case-Shiller Indices), the main measure of US housing prices. residential real estate.

Housing prices rose by 13.2 percent compared to March 2020 or exceeded the maximum value reached since December 2005, according to a statement from S&P Global today.

Market analysts noted a rise in prices in all regions of the United States. The price increase was also significant in the previous month, ie 12 percent.

The housing price index in the 10 largest cities in the United States (10-City Composite) in March was 12.8 percent, and in the 20 largest cities (20-City Composite) was 13.4 percent. The authors estimate that in March, housing prices rose the most in Phoenix, Arizona, by 20 percent, followed by San Diego, California, by 19.1 percent and Seattle, Washington, by 18.3 percent.

Craig Lazarus, director of index investment strategy at S&P Dow Jones Indices, said that the rise in housing prices in the United States continues to accelerate for ten months in a row.

“The data we have are in line with estimates that Covid-19 has prompted potential buyers to leave city apartments in suburban homes faster,” he said.

He adds that “the growth in demand can be driven by those buyers who have only accelerated the process of buying a home, and the purchase would certainly be made, but in the next few years.”

-On the other hand, we can witness changes in consumer habits, and this will contribute to the mixed demand for different types of housing. But a more detailed analysis and explanation of what is happening requires longer-term market monitoring, Lazara said.

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