Home Prices Up 6% in January

The S&P CoreLogic Case-Shiller U.S. National Home Price Index posted a 6% annual gain in January, up from a 5.6% gain in December, according to CoreLogic’s latest report. Here are other key takeaways:
  • January marked the seventh consecutive month of annual price growth and the biggest increase since November 2022.
  • For the second consecutive month, all 20 cities tracked by the index reported annualized increases in prices.
  • All indexes tracked by Case-Shiller increased on a month-over-month basis when seasonally adjusted
    • National index: +0.4%
    • 20-city composite: +0.2%
    • 10-city composite: +0.1%

Our take
This report shows that homeowners saw healthy gains last year, no matter where they lived. That’s an important stat for your potential buyers to know. Despite the high prices and mortgage rates, and the low inventory levels, there’s still upside out there to buying a home. Right now, for-sale options are improving and should continue to climb into the summer. This is all good motivation for buyers to get off the sidelines and start making moves.

James and David, The Blueprint

March 29, 2024