Inman News
27 April 2018
Half the cities on Case-Shiller are seeing all-time high home prices.
Bespoke Investment first pointed out the milestone over at the financial blog Seeking Alpha. The index as a whole showed a 6.3 percent year-over-year gain for home prices in February, released earlier this week. Home prices, according to the index, showed no sign of slowing and were similar to rising home prices in the 15 years before the financial crisis.
When you break those numbers down from the national to the regional level, the all-time highs are now standing in half of the real estate markets — reaching or exceeding levels seen before 2008.
San Diego and Los Angeles are now at all-time highs. Los Angeles saw a 1.03 percent monthly change and a 8.3 percent year-over-year change, while San Diego saw a 1.11 percent monthly and 7.6 percent year-over-year jump.
Home prices in Los Angeles | Credit: Screenshot of CoreLogic S&P Case- Shiller Home Price Index
The addition of Los Angeles and San Diego is enough to ensure that now more than half are at all-time highs.
Atlanta, Boston, Charlotte, Dallas, Denver, Portland, Oregon, San Francisco and Seattle are also at all-time highs.
Chicago, Cleveland, Detroit, Las Vegas, Miami, Minneapolis, New York, Phoenix, Tampa and Washington, D.C., are not.
The S&P CoreLogic Case-Shiller U.S. National Home Price Index is a composite of single-family home price indices that is calculated every month. The indices are calculated using estimates of the aggregate value of single-family housing stock. 