Macro Brief: S&P Corelogic Case-Shiller HPI
Released on 12/29/2020 @ 9:00 AM ET
|20-City, SA M/M||1.4%||0.7%||1.6%|
|20-City, NSA M/M||1.3%||0.8%||1.3%|
|20-City, NSA Yr/Yr||6.6%||6.9%||7.9%|
Home price growth accelerated in again in October as the 20-City index showed a 7.9% year/year improvement while the national composite gained 8.4% year/year; the greatest rate in six years. Housing prices continue to show growth amid the pandemic because of extremely low inventory and low lending rates. The acceleration of increasing prices began in late summer of 2019 but saw a brief interuption in late spring 2020 due to the COVID shutdown. Since then, prices have again been accelerating higher.
Details of the report show that Phoenix had the strongest home price growth for the 17th consecutive month followed by Seattle, and San Diego.
Homebuilder ETFs: ITB, XHB, HOMZ, NAIL