US Home Prices Reach Record Highs Despite Regional Drops
TL;DR Summary
The S&P CoreLogic Case-Shiller Home Price Index for March 2024 shows a 1.6% month-to-month increase in home prices across 20 major U.S. metros, with an overall year-over-year rise of 7.4%. Despite recent rate cuts, mortgage rates have fluctuated, currently averaging 7.28%. Notably, home prices in cities like San Francisco, Seattle, and Phoenix remain below their 2022 peaks, while cities like Miami, Los Angeles, and San Diego have reached new highs. The index highlights significant home-price inflation since 2000, particularly in San Diego, Miami, and Los Angeles.
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- US house price inflation slows in March, FHFA says Yahoo Finance
- Housing prices soar to a new all-time high in March Fox Business
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