Home prices are still on the rise across the U.S. according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The report, covering all nine U.S. census divisions, reported a 18.6% annual gain in June, up from 16.8% in the previous month. 

The 10-City Composite annual increase came in at 18.5%, up from 16.6% in the previous month. The 20-City Composite posted a 19.1% year-over-year gain, up from 17.1% in the previous month.

“June 2021 is the third consecutive month in which the growth rate of housing prices set a record,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P DJI. “The National Composite Index marked its thirteenth consecutive month of accelerating prices.”

Phoenix, San Diego, and Seattle reported the highest year-over-year gains among the 20 cities in June. 

  • Phoenix had a 29.3% year-over-year price increase
  • San Diego, a 27.1% increase 
  • Seattle, a 25.0% increase

All 20 cities reported higher price increases in the year ending June 2021 versus the year ending May 2021. 

Before seasonal adjustment:

  • The U.S. National Index posted a 2.2% month-over-month increase in June
  • The 10-City and 20-City Composites both posted increases of 1.8% and 2.0%, respectively

After seasonal adjustment

  • The U.S. National Index posted a month-over-month increase of 1.8%
  • The 10-City and 20-City Composites both posted increases of 1.6% and 1.8%, respectively

In June, all 20 cities reported increases before and after seasonal adjustments.

“The last several months have been extraordinary not only in the level of price gains, but in the consistency of gains across the country,” Lazzara said. “Home prices in 19 of our 20 cities (all but Chicago) now stand at all-time highs, as do the National Composite and both the 10- and 20-City indices.”

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