Phoenix stays at the top spot in annual home price growth
US home prices continued their trend of steady growth in December, according to data from the S&P CoreLogic Case-Shiller Indices.
The National Home Price NSA Index edged up 3.8% year over year and up three basis points from the previous month. The 10-city composite grew to 2.4% year over year in December, while the 20-city composite rose 2.9%.
"December's results bring the national composite index to a 3.8% increase for calendar 2019," said Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices. "This marks eight consecutive years of increasing housing prices (an increase which is echoed in our 10- and 20-city composites). At the national level, home prices are 59% above the trough reached in February 2012, and 15% above their pre-financial crisis peak. Results for 2019 were broad-based, with gains in every city in our 20-city composite."
Of the 20 cities, 12 reported a boost in home prices from November to December. Phoenix (+6.5%), Charlotte (+5.3%), and Tampa (+5.2%) remained the top three cities with the highest annual gains.
"At a regional level, Phoenix retains the top spot for the seventh consecutive month, with a gain of 6.5% for December," Lazzara said. "Charlotte and Tampa rose by 5.3% and 5.2% respectively, leading the Southeast region. The Southeast has led all regions for the past year.
