U.S. Home Prices Continued to Climb in February
Home-price growth accelerated to new 15-year high, according to Case-Shiller index
April 27, 2021 | Nicole Friedman | Wall Street Journal
Home-price growth accelerated to a new 15-year high in February, as homebuying demand remained strong and the number of homes for sale held near a record low.
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 12% in the year that ended in February, up from an 11.2% annual rate the prior month. February marked the highest annual rate of price growth since February 2006.
Also on Tuesday, the Commerce Department reported that the homeownership rate inched higher to 65.6% in the first quarter, up from 65.3% a year earlier and slightly down from 65.8% in the fourth quarter. For households headed by someone under 35 years old, a key source of homebuying demand, the homeownership rate rose to 38.1% from 37.3% a year earlier.
