The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 19.5% annual gain for September, 2021, which they say is a record high. Their 10-City Composite annual increase came in at 17.8% and their 20-City Composite posted a 19.1% year-over-year gain.
“We have previously suggested that the strength in the U.S. housing market is being driven by households’ reaction to the COVID pandemic, as potential buyers move from urban apartments to suburban homes. More data will be required to understand whether this demand surge represents simply an acceleration of purchases that would have occurred over the next several years, or reflects a secular change in locational preferences. September’s report is consistent with either explanation.”
Click here to read the full report at S&P Dow Jones Indices.
