House prices in the United States increased by 4.1% on an annual basis in January, S&P CoreLogic Case-Shiller revealed in its report on Tuesday.
The 10-City Composite rose by 5.3% year-on-year, while the 20-City Composite advanced by 4.7%. The biggest annual price increase was recorded in New York once again, climbing by 7.7%, followed by Chicago with a 7.5% increase and Boston with 6.6%. The lowest return was observed in Tampa, which declined by 1.5% compared to the same month in the previous year.
"Home price growth continued to moderate in January, reflecting a clear two-part story across the past year," S&P Dow Jones Indices' Head of Fixed Income Tradables and Commodities Nicholas Godec stated. "The National Composite Index posted a 4.1% annual gain, with the bulk of appreciation—4.8%—occurring in the first half of the year. Prices declined 0.7% in the second half, as high mortgage rates and affordability constraints weighed on buyer demand and market activity," he added.
