Home Prices Jump

The S&P Case-Shiller home price index was just released. And he showed that nationally the average residential home price increased in January and now show a annual rise of 5.7%!

It seems that because all of our shortage of supply in the residential housing market home prices that are now rising at twice the rate of inflation!

Here in San Diego California home prices rose by 4/10 of 1% from December 2015 to January 2016 according to the Case-Shiller report. Actually that increase was 2/10 of a percent lower than the monthly increase reported by Case-Shiller for the period of November to December 2015. But, on an annual basis home prices in San Diego according to Case-Shiller have increased by 6.9% substantially over the national home price increases.

So, even though San Diego homeowners should be delighted with their annual 6.9% home price increase, this increase was far below the top five cities in the Case-Shiller report.

Home Prices Jump

According to the latest Case-Shiller report the top five cities with the highest annual residential home price increases were, Portland Oregon at 11.8%. In second place was Seattle at 10.7%.

The only California city to come in in the top five in this latest Case-Shiller report was San Francisco. In San Francisco the average home price annual increase was 10.5%. This annual increase was followed closely by Denver Colorado which came in at 10.2%. Number five on our list here for annual residential home price increases was Dallas Texas. Dallas Texas home prices on an annual basis increased by 9.2%.

This latest housing report also showed that on a monthly basis home prices in Chicago actually went down a half of 1% for the period from December 2015 to January 2016. On an annual basis Chicago home prices were up by a modest 2.1%.

Click here to view the entire latest Case-Shiller residential home price report.

Home Prices Jump