{"id":259023,"date":"2021-05-26T05:09:00","date_gmt":"2021-05-26T02:09:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/home-prices-rise-at-fastest-pace-since-2005-heres-where-they-soared-the-most\/"},"modified":"2021-05-26T05:09:00","modified_gmt":"2021-05-26T02:09:00","slug":"home-prices-rise-at-fastest-pace-since-2005-heres-where-they-soared-the-most","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/home-prices-rise-at-fastest-pace-since-2005-heres-where-they-soared-the-most\/","title":{"rendered":"#\n  Home prices rise at fastest pace since 2005 \u2014 here\u2019s where they soared the most"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41141a9b0d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41141a9b0d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/home-prices-rise-at-fastest-pace-since-2005-heres-where-they-soared-the-most\/#Phoenix_topped_the_country_with_a_20_increase_in_home_prices_over_the_past_year\" >Phoenix topped the country with a 20% increase in home prices over the past year<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/home-prices-rise-at-fastest-pace-since-2005-heres-where-they-soared-the-most\/#Jacob_Passy\" >Jacob Passy<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Home prices rise at fastest pace since 2005 \u2014 here\u2019s where they soared the most<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Phoenix_topped_the_country_with_a_20_increase_in_home_prices_over_the_past_year\"><\/span>\n  Phoenix topped the country with a 20% increase in home prices over the past year<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000282186\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       <strong>The numbers:<\/strong> Home price gains continue to accelerate, reflecting the significant imbalance between the supply and demand for housing across the U.S.<\/p>\n<p> The index of home prices across 20 large cities increased at yearly pace of 13.3% in March, according to the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.spglobal.com\/spdji\/en\/documents\/indexnews\/announcements\/20210525-1381359\/1381359_cshomeprice-release-0525.pdf\" class=\"icon none\">S&amp;P CoreLogic Case-Shiller home price index<\/a>. On a monthly basis, home prices were up 1.6%.<\/p>\n<div class=\"paywall\">\n       \u201cThe market\u2019s strength is broadly-based: all 20 cities rose, and all 20 gained more in the 12 months ended in March than they had gained in the 12 months ended in February,\u201d Craig J. Lazzara, managing director and global head of index investment strategy at S&amp;P DJI, said in the report.<\/p>\n<p>The separate national index, which measures home prices across the country, displayed a similar 13.2% gain over the past year, which equates to the highest annual gain since December 2005.<\/p>\n<p><strong>What h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened:<\/strong> Among the 20 cities that the index tracks, Phoenix again saw the largest increase with a 20% jump, followed by San Diego (up 19.1%) and Seattle (up 18.3%).<\/p>\n<p>Separately, the Federal Housing Finance Agency released its quarterly house-price index, which showed that home prices were up 12.6% over the past year as of the first quarter.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span><br \/>\n        \u2018House price growth over the prior year clocked in at more than twice the rate of growth observed in the first quarter of 2020.\u2019<br \/>\n        <span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span><\/p>\n<p>        <small><br \/>\n          <span class=\"inset-author article__inset__pullquote__author\">\u2014 Lynn Fisher, deputy director of FHFA\u2019s division of research and statistics<\/span><br \/>\n        <\/small><\/p><\/div>\n<\/p><\/div>\n<p>       \u201cHouse price growth over the prior year clocked in at more than twice the rate of growth observed in the first quarter of 2020, just before the effects of the pandemic were felt in housing markets,\u201d Lynn Fisher, deputy director of FHFA\u2019s division of research and statistics, said in the report. <\/p>\n<p> \u201cIn March, rates of appreciation continued to climb, exceeding 15% over the year in the Pacific, Mountain and New England census divisions,\u201d she added.<\/p>\n<p><strong>The big picture: <\/strong>Rising home prices aren\u2019t in themselves a new phenomenon caused by the pandemic \u2014 as the FHFA\u2019s report notes, home prices have increased every quarter since September 2011. But the size of the increases is certainly influenced in part by the pandemic.<\/p>\n<p>Many Americans poured into the housing market in search of larger homes, particularly in the suburbs. With many companies shifting to remote-working arrangements on a more permanent basis because of the pandemic, workers could stand to live further from major city centers without facing long daily commutes.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>The pandemic-related trend magnified demographic shifts already in motion. Millennials are aging into the time of life where people most often buy their first homes. Unfortunately, the supply of housing is severely constrained, in large part because of years of under-building that followed the Great Recession. Experts have warned it will take years for home builders to construct enough homes to meet Americans\u2019 needs, meaning that high home prices may be here to stay.<\/p>\n<p><strong>What they\u2019re saying:<\/strong> \u201cThe main challenge is finding a sustainable solution to the affordable housing crisis in an environment where new construction is lagging, and large investment funds are crowding out many first-time buyers,\u201d said George Ratiu, senior economist at Realtor.com.<\/p>\n<p>\u201cSoaring house prices may be turning off some potential buyers, with existing home sales falling in three straight months,\u201d said Sal Guatieri, senior economist at BMO Capital Markets, in a research note.<\/p>\n<p>\u201cThe rise in\u00a0home\u00a0prices\u00a0seems like an old story at this point. But the increases are happening across the board. It doesn\u2019t matter if it\u2019s at the upper end or the bottom tier,\u201d said Tom Porcelli, chief U.S. economist at RBC Capital Markets, in a research note.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jacob Passy\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jacob_Passy\"><\/span>Jacob Passy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-744E-4AA2EDE9CD67%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Home prices rise at fastest pace since 2005 \u2014 here\u2019s where they soared the most &#8221; Phoenix topped the country with a 20% increase in home prices over the past year The numbers: Home price gains continue to accelerate, reflecting the significant imbalance between the supply and demand for housing across the U.S. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":259024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-259023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/259023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=259023"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/259023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/259024"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=259023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=259023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=259023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}