Rising house prices continued as 2018 began with the latest National HPI revealing annual gains across a leading index.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index which covers all nine US census divisions, reported a 6.2% annual gain in January, (it was 6.3% in December) while the 10-City Composite annual increase came in at 6.0% (no change).
The 20-City Composite increased its rise, with a 6.4% year-over-year gain, up from 6.3% in the previous month, led by Seattle (12.9%), Las Vegas (11.1%) and San Francisco (10.2%).
"The home price surge continues," says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. "Since the market bottom in December 2012, the S&P CoreLogic Case-Shiller National Home Price index has climbed at a 4.7% real – inflation adjusted – annual rate. That is twice the rate of economic growth as measured by the GDP. While price gains vary from city to city, there are few, if any, really weak spots.”
Before seasonal adjustment, the National Index was up 0.05% (0.5% seasonally adjusted) in January from December. There was a 0.3% unadjusted rise for both the 10-City and 20-City Composites (0.7% and 0.8% respectively, seasonally adjusted).
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