United States: Home price growth stable in January
The S&P/Case-Shiller 20-city composite home price index increased 0.9% month-on-month in January matching December’s rise. When adjusted for seasonal factors, home prices were up 1.2% in January compared to 1.3% the month prior.
Home prices surged 11.1% in annual terms in January, which was stronger than December’s 10.2% increase and marked the quickest pace of growth since March 2014. Gains were the strongest in Phoenix for 20 straight months, followed by Seattle and San Diego. Overall, all 20 cities registered price growth in December.