Just out from Case-Shiller/S&P/CoreLogic:
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census
divisions, reported a 12.0% annual gain in February, up from 11.2% in the previous month. The 10-City
Composite annual increase came in at 11.7%, up from 10.9% in the previous month. The 20-City
Composite posted an 11.9% year-over-year gain, up from 11.1% in the previous month.
Phoenix, San Diego, and Seattle reported the highest year-over-year gains among the 20 cities in February. Phoenix led the way with a 17.4% year-over-year price increase, followed by San Diego with a 17.0% increase and Seattle with a 15.4% increase. Nineteen of the 20 cities reported higher price increases in the year ending February 2021 versus the year ending January 2021.
Before seasonal adjustment, the U.S. National Index posted an 1.1% month-over-month increase, while
the 10-City and 20-City Composites both posted increases of 1.1% and 1.2% respectively in February.
After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.1%, and the 10-City and 20-City Composites both posted increases of 1.1% and 1.2% respectively as well. In February, all 20 cities reported increases before and after seasonal adjustments.
“Strong home price gains continued in February 2021,” says Craig J. Lazzara, Managing Director and
Global Head of Index Investment Strategy at S&P DJI. The National Composite Index marked its ninth
month of accelerating prices with a 12.0% gain from year-ago levels, up from 11.2% in January. This
acceleration is also reflected in the 10- and 20-City Composites (up 11.7% and 11.9%, respectively).
The market’s strength continues to be broadly-based: all 20 cities rose, and 19 cities gained more in the 12 months ended in February than they had gained in the 12 months ended in January.
And looking at the price charts?
With the data out, Dow futures down 27, S&P Futures up 2…so mixed bag.
More for on inflation-ahead for subscribers to our Peoplenomics site tomorrow…