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Case-Shiller Index Hits Record High with 6.5% Annual Gain in March, 14th Consecutive Monthly Rise

May 28, 2024, 02:23 PM

The S&P CoreLogic Case-Shiller U.S. National Home Price Index reported a 6.5% annual gain for March, maintaining the same increase as the previous month. The index, which covers all nine U.S. census divisions, also showed a 0.3% month-over-month increase. The 10-city composite saw a 0.5% monthly gain, while the 20-city composite recorded a 0.3% rise. This marks the 14th consecutive month of month-over-month price increases. The Case-Shiller 20-City Home Price Index hit another record high, with all 20 cities showing rising prices over the past year. San Diego posted the biggest year-over-year home-price gains among the 20 major U.S. metro markets. On a seasonally adjusted basis, the index rose 0.33% month-over-month and 7.38% year-over-year. The national home prices are now 2.7% above the 2022 peak, reaching a new all-time high. Annual price gains ranged from 6.5% to 8.2% across the national, 10-, and 20-city composites.