Wednesday, February 26, 2020

Home Prices Growing Strong

Housing is looking strong: In the fourth quarter of 2019, home prices rose 5.1 percent on an annual basis, the Federal Housing Finance Agency reported yesterday. Between November and December, its monthly home price index increased 0.6 percent.

That's not the only good news for the housing market. The S&P CoreLogic Case-Shiller 20-city price index posted a 2.9 percent year-over-year gain in December, up from 2.5 percent the previous month. On a monthly basis, the index increased 0.4 percent between November and December.

The Case-Shiller index has shown the Southeast region, which includes Tennessee, to be leading the rest of the country in home price growth. For individual cities, Phoenix posted the largest price increase, with a 6.5 percent year-over-year gain. That was followed by Charlotte’s 5.3 percent increase and Tampa’s 5.2 percent increase.

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