Home prices in Phoenix experienced the highest year-over-year increase in the country, according to the latest S&P CoreLogic Case-Shiller Index, the leading measure of U.S. home prices.
The latest data from June 2021shows that while home prices continue to increase across the country at large, those in Phoenix climbed a whopping 29.3% year-over-year, followed by San Diego at 27.1% and Seattle at 25%.
“Phoenix’s 29.3% increase led all cities for the 25th consecutive month, with San Diego (+27.1%) and Seattle (+25.0%) close behind. As has been the case for the last several months, prices were strongest in the Southwest (+22.7%) and West (+22.6%), but every region logged top-decile, double-digit gains.—Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI
The report, which covers all nine U.S. census divisions, recorded an18.6% annual gain in June, up from 16.8% in the previous month, nationwide.