Case Shiller Home Price Index Report

The National Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices rose 2.6% in March and 20.6% year over year, which is an increase from 19.8% in the previous report. The hottest markets are as follows: Tampa: 34.8% Phoenix: 32.4% Miami: 32% While this is a dated report, it shows no signs of appreciation slowing down as of March. If you were to annualize the monthly gain it would be over 30% for the year. This report does not fully take into account the rise in interest rates, so we will know where we are in the coming months. But because it’s so strong through March, it’s supportive of our thoughts that we will see the gains slow, but not decreases in pricing.