United States Housing December 2020

United States

United States: Home price growth loses some pace in December

February 23, 2021

The S&P/Case-Shiller 20-city composite home price index—excluding Detroit due to reporting delays—increased 0.8% month-on-month in December down from November’s 1.1% rise. When adjusted for seasonal factors, home prices were up 1.3% in December compared to 1.4% the month prior.

Home prices climbed 10.1% in annual terms in December, which was stronger than November’s 9.2% increase and marked the quickest pace of growth since April 2014. Gains were the strongest in Phoenix for 19 straight months, followed by Seattle and San Diego. Overall, all 19 cities—Detroit data was unavailable in the index —registered price growth in December.

Our panel expects home prices to increase 3.5% in 2021, which is up 1.4 percentage points from last month’s forecast. For 2022, panelists see home prices rising 3.2%.

Author:, Economist

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United States Housing Chart

United States Housing December 20 20

Note: S&P/Case-Shiller Composite-20 home price value index and month-on-month non-seasonally adjusted variation.
Source: Standard & Poor’s.

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