It’s the second month in a row that prices have increased, after an increase in February that snapped a seven-month streak of month-over-month declines. After seasonal adjustment, the national index posted a month-over-month increase of 0.4%. Both the 10-City and 20-City composites posted increases, too. Before seasonal adjustment, the National Index posted a 1.3% month-over-month increase.
“The modest increases in home prices we saw a month ago accelerated in March 2023,” said Craig Lazzara, managing director at S&P DJI. Prices are rising on a year-over-year basis, although the amount of that price growth has been getting smaller for the past several months. Home prices went up 0.7% in March from the year before, down from 2.1% in the previous month. This is a developing story and will be updated.
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