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The spring housing season will continue to be plagued by rising prices as shown by the new report from S&P CoreLogic Case-Shiller Index.
The report, released Tuesday, showed on a national level home prices in March were 0.7 percent higher than in March 2022. After adjusting for seasonal growth prices increased nationally 0.4 percent month-over-month.
“The modest increases in home prices we saw a month ago accelerated in March 2023,” said Craig J. Lazzara, managing director at S&P DJI, in a release following the report. “Two months of increasing prices do not a definitive recovery make, but March’s results suggest that the decline in home prices that began in June 2022 may have come to an end.”
The 10-city composite increased by 1.6 percent and the 20-city composite increased by 1.5 percent. When looking at seasonal adjustment, the 10-city composite increased 0.6 percent, additionally, the 20-city composite increased too by 0.5 percent. The 10-city composite increased 1.6 percent, additionally, the 20-city composite increased too by 1.5 percent.
Posted May 30, 2023
