(S&P Dow Jones) The Home Price Index covering all the nine census divisions of the US rose at an annual 20.6% in March, accelerating from 20.0% the previous month.
The house index in the 10-City Composite rose at an annual 19.5% in March, compared to 18.7% in February. The 20-City Composite rose by 21.2%, from 20.3% the prior month.
House prices rose the highest in Tampa, Phoenix, and Miami on a year-over-year basis in the 20-City composite. The cities added 34.8%, 32.4%, and 32.0%, respectively.
Overall, seventeen of the 20 cities posted increases in house prices in the year ending March 2022 versus February.
On a month-over-month basis, the National Index gained 2.6% in March. The 10-City Composite added 2.8%, while the 20-City Composite index was up by 2.4%.
Craig J. Lazzara, Managing Director at S&P DJI, says that house prices will take longer before coming down, despite rising mortgage rates weighing down activity.
SPY is down -0.46%, DYX is up +0.55%.
