Home Supply

Case-Shiller Home Price Indices reported a year-over-year national home price gain of 9.50 percent for November 2020. Home prices continued to grow in response to high demand for homes and homeowner relocations in response to the covid-19 pandemic. Inventories of pre-owned homes remained low. Home prices rose at a slower pace in November but remained strong in most areas. 20-City Home Price Index Reports Home Price Gains in 19 of 20 Cities November’s edition of the 20-City Home Price Index reported the highest year-over-year home price gain of 13.80 percent in Phoenix, Arizona, which held first place for the 18th consecutive month. Seattle, Washington reported year-over-year home price growth of 12.70…

According to the National Case-Shiller Home Price Index for June, U.S. home prices rose 4.30 percent year-over-year, which was unchanged from May’s year-over-year home price growth rate. Home prices are expected to continue growing through 2020 as businesses reopen and COVID-19 restrictions ease. Case-Shiller’s 20-City Home Price Index for May showed Phoenix, Arizona held the top spot with 9.00 percent year-over-year growth; Seattle, Washington followed with 650 percent growth in home prices. Tampa, Florida maintained its third-place position with 5.90 percent year-over-year home price growth. Five of 19 cities reporting in the 20-City Index showed a higher rate of home price growth. Wayne County, Michigan, which includes the Detroit metro area,…