Home Prices On the Rise
National home prices hit 33-month high in March
Home prices across the nine U.S. census divisions hit a 33-month high in March, with the S&P CoreLogic Case-Shiller U.S. National Home Price Index rising 5.8 percent from its level in March 2016, a 0.1 percentage point more than the annual increase it posted in February. On a month-over-month basis, the Index gained 0.8 percent on a non-seasonally adjusted basis, and was up 0.3 percent after adjustment.
The revised estimate for the monthly gains from January to February are 0.2 percent on a non-adjusted basis and 0.4 percent after adjustment.
The 10-City Composite index gained 5.2 percent from the previous March and posted an 0.9 percent increase from February both with and without adjustment. The 20-City Composite was up 5.9 percent on an annual basis but only rose 0.1 percent from February on a non-adjusted basis. Seasonally adjusted the 20-City Composite also was up 0.9 percent.
Seattle, Portland, and Dallas reported the highest year-over-year gains among the 20 cities. In March, Seattle led the way with a 12.3 percent year-over-year price increase, followed by Portland with 9.2 percent, and Dallas with an 8.6 percent increase. Ten cities reported higher price increases in the year ending March 2017 than in the year ending February 2017.
Brent Boltz Mission Realty Group
278 Town Center Pkw. #204 Santee 92071