Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller [CNBC]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: CNBC
Home prices in February jumped 6.4% year over year, another increase after the prior month's annual gain of 6%, according to the S&P CoreLogic Case-Shiller national home price index. It was the fastest rate of price growth since November 2022. The 10-city composite rose 8%, up from a 7.4% increase in the previous month. The 20-city composite saw an annual gain of 7.3%, up from a 6.6% increase in January. “Following last year's decline, U.S. home prices are at or near all-time highs,” says Brian Luke, head of commodities, real and digital assets at S&P Dow Jones Indices. “For the third consecutive month, all cities reported increases in annual prices, with four currently at all-time highs: San Diego, Los Angeles, Washington, D.C., and New York.” Prices in San Diego saw the biggest gain among the 20 cities in the index, up 11.4% from February of 2023. Both Chicago and Detroit reported 8.9% annual increases. Portland, Oregon, saw the smallest gain in the index of just 2.2%. “The
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