News and Opinion: February 28, 2023. The 12-Month Home Price Index Increased 5.76% With Respect to Last Year in December 2022

[marcusantoniu26]

The 12-month National home price index increased again in the United States. According to the S&P CoreLogic Case-Shiller National Home Price Index, the 12-month increase in December 2022 was 5.76% compared to the one reported for November 2022 which was 7.69%.

The 5.76% actually represents a continuous deceleration in the home price increase. Now it is below the inflation rate, so in real terms, the home prices have actually decreased in 1 year.

The index in December 2022 was 294.68. November 2022's index was 297.29, so the month to month change was -0.88%. In December 2021, the index was 278.64

Link for the source of the graphic

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

Comments

[amberkashif]

What does the home price decrease indicate? A betterment in financial circumstances?

[marcusantoniu26]

No. It means that there is a oversupply of homes and lack of buyers. It could mean the start of a financial crisis

[amberkashif]

Oh! I see
It means it would effect the real estate prices downwardly