The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 18.1% annual gain for November, 2021, which they say is a record high. Their 10-City Composite annual increase came in at 16.8% and their 20-City Composite posted a 18.3% year-over-year gain.
“We have previously suggested that the strength in the U.S. housing market is being driven in part by a change in locational preferences as households react to the COVID pandemic. More data will be required to understand whether this demand surge represents an acceleration of purchases that would have occurred over the next several years or reflects a more permanent secular change…” Said Craig J. Lazzara, Managing Director at S&P DJI.
Click here to read the full report at S&P Dow Jones Indices.