United States Housing February 2022

United States

United States: House prices grow at quickest pace since May 2013 in February

April 26, 2022

The S&P/Case-Shiller 20-city composite home price index rose 2.4% in month-on-month terms in February, which followed January's 1.4% increase. The result marked the strongest expansion since May 2013.

On an annual basis, house prices grew 20.2% in February, which was better than January’s 18.9% expansion and marked the best result on record. The annual figure was led by price growth in Phoenix, Tampa and Miami.

Looking forward, our panelists see house price growth eventually cooling later this year as sharply rising interest rates increase the cost of taking out a mortgage.

Our panel expects home prices to increase 11.5% in 2022, which is up 0.6 percentage points from last month’s forecast. For 2023, panelists see home prices rising 3.6%.


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United States Housing Chart

United States Housing February 2022

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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