By Mary Salmonsen | Builder
The 10-City Composite annual increase rose to 14.4% in April, up from 12.9% the previous month, while the 20-City Composite annual increase rose to 14.9% year over year, up from 13.4% the previous month. Phoenix led the top 20 cities in price gains at 22.3% year over year, followed by San Diego at 21.6% and Seattle at 20.2%. All 20 cities reported higher price gains in the year ending April than in the year ending March.
“Housing prices accelerated their surge in April 2021,” says Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices. “April’s performance was truly extraordinary. The 14.6% gain in the National Composite is literally the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data. Housing prices in all 20 cities rose; price gains in all 20 cities accelerated; price gains in all 20 cities were in the top quartile of historical performance. In 15 cities, price gains were in top decile. Five cities—Charlotte, Cleveland, Dallas, Denver, and Seattle—joined the National Composite in recording their all-time highest 12-month gains.”
Unadjusted, the U.S. National Index recorded a 2.1% month-over-month home price increase in April, and the 10-City and 20-City Composites posted 1.9% and 2.1% increases, respectively. On a seasonally adjusted basis, the U.S. National Index recorded a 1.6% month-over-month increase, while the 10-City and 20-City Composites recorded 1.4% and 1.6% increases. All 20 cities recorded home price increases before and after seasonal adjustment.
