The New York City skyline in the United States

United States Housing March 2022

United States: House price growth records best result on record in March

The S&P/Case-Shiller 20-city composite home price index rose 3.1% in month-on-month terms in March, which followed February’s 2.4% increase. March’s print marked the best result on record.

On an annual basis, house prices grew 21.2% in March, which was above February’s 20.3% expansion and also marked the best result on record. The annual figure was once again led by price growth in Phoenix, Tampa and Miami—which are benefitting from the increase in remote working brought on by the pandemic—although all 20 cities saw double-digit price growth in March.

Looking forward, our panelists see house price growth eventually cooling amid rising interest rates, elevated inflation and an improved supply of new homes, with the 2023 price growth forecast much lower than that for 2022. However, rock-bottom unemployment will keep buttressing home demand, while the rise of remote working, more favorable weather and relative affordability will likely continue to support house prices in the south of the country.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest