Source: S&P Dow Jones Indices
US house prices increased by an annual 19.2% in January, accelerating from a gain of 18.9% the previous month. SPY is up +0.87%, DXY is down -0.97%.
- The 10-City Composite annual rise in house prices was posted at 17.5% in January, compared to 17.1% the previous month. The 20-City Composite rose by 19.1%, compared to the previous 18.6% increase in the same period.
- In the 20-City Composite, the highest annual increases in house prices were in Phoenix, Tampa, and Miami, with increases of 32.6%, 30.8%, and 28.1%, respectively.
- On a month-over-month basis, the National Index gauging house prices rose by 1.1% in January, with the 10-City and 20-City Composites recording gains of 1.4%.
- Craig J. Lazzara, Managing Director at S&P DJI, says although the house prices rose sharply, the pace continued to decline in January. Lazzara expects the rising mortgage rates to continue weighing down on house prices