Headed for an All-Time High in Home Prices? We're awfully close
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S&P Dow Jones Indices (S&P DJI) announced today the Case-Shiller home price indexes, arguably the broadest measures of home prices. They report a national index and a number of sub-indexes. All 20 major metro markets reported month-over-month price increases for the fourth straight month with a few very strong markets such as Chicago +4.2% yoy, Cleveland +4.1% and New York +3.4%.
The commentary is equally supportive:
"U.S. home prices continued to increase in June 2023," says Craig J. Lazzara, Managing Director at S&P DJI. "Our National Composite rose by 0.9% in June, and it now stands only -0.02% below its all-time peak from exactly one year ago. Our 10- and 20-City Composites likewise each gained 0.9% in June 2023, and stand -0.5% and -1.2%, respectively, below their June 2022 peaks.
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1 年Woah! That is really interesting.