US home prices continue growth streak

Home price growth ended 2021 on a high note and entered 2022 with even bigger gains across all composites.

The latest S&P CoreLogic Case-Shiller Index showed that home prices nationwide increased 1.6% month over month and increased by 19.2% year over year in January. Although home price growth had decelerated in the past couple of months, the 19.2% annual increase was the fourth-largest reading in 35 years of the index’s history.

“Home price changes in January 2022 continued the strength we had observed for much of the prior year,” said Craig Lazzara, managing director at S&P DJI. “Last fall, we observed that home prices, although continuing to rise quite sharply, had begun to decelerate. Even that modest deceleration was on pause in January.”