summary
â—†The national house price index in March 2022 increased slightly from the previous month, with a growth rate of 20.55% compared with the same period last year
â—†March real estate prices, Phoenix ranked first year-on-year, Seattle ranked first month-on-month
â—† Central region The city's month-on-month price is stronger than that of the East Coast, and the annual growth rate of the West Coast is also higher than that of the East Coast cities. San Francisco has increased by approximately 24.1% compared with the same period last year, and New York has increased by approximately 13.7%
National S&P in March 2022/Case· The Shiller House Price Index (S&P/Case-Shiller House Price Index) is newly released. The overall housing prices in the United States increased by 20.55% compared with the same period last year and increased by 0.75% from the previous month. Prices will rise after 2022.
Data source: FRED
â—†House prices in major cities continue to rise compared with the same period last year
We usually look at the growth of housing prices by comparing the housing prices this month with the same period last year. This is what everyone often calls year-on-year. The reason is that the real estate market is greatly affected by seasonal factors. For example, summer is generally the most active period for home buying, and housing prices are also the highest period of the year.
Among them, Phoenix in the West continues to rank first among major cities in the United States, with an increase of 32.36% over the same period last year, Miami ranks second, with a growth rate of 31.96%; ming in March 2022 The growth rate of in Minneapolis is relatively flat, with a growth rate of 12.4% compared with the same period last year.
Data source: FRED
The S&P/Case-Shiller House Price Index is calculated by the well-known rating agency Standard & Poor's (S&P). It is an authoritative and universal U.S. real estate price index that is used to comprehensively consider regional real estate price changes. . Since it takes a certain amount of time to collect and integrate real estate information from various places, at the beginning of each month, S&P will update the house price index three months ago.
Looking at the fifteen largest cities in the United States, March 2022 has generally increased compared with the same period last year. The top three cities with the highest growth rates are Phoenix, Miami, and Dallas, with growth rates of 32.36% and 31.96% respectively. and 30.71%; cities with slower growth and more stable housing prices are Minneapolis, Washington, DC, and Chicago, with growth rates of 12.4%, 12.86%, and 12.98% respectively.
Denver; Photo by Acton Crawford on Unsplash
â—†The monthly growth rate of housing prices in the fifteen largest cities in the United States continues to grow, and the central region performs well
In addition to year-on-year growth, comparison with the housing prices of the previous month is also another important indicator. Directly seeing the short-term house price changes, this is what everyone often calls month-on-month. Housing prices in most major cities in the United States in March 2022 are still showing an increasing trend compared with the previous month, but the top three regions are different from the past few months. Seattle has the first month-on-month growth rate, and the single-month growth rate is 5.57%. , Denver, and Dallas in the central region ranked second and third respectively, with monthly growth rates of 4.47% and 4.3% respectively.
Data source: FRED
â—†Real estate performance in the five major cities in the United States
Let’s take a closer look at the real estate performance in the five major cities where Chinese people gather: New York, Boston, Chicago, Los Angeles and San Francisco.
Before interpreting the changes in housing prices in the five major cities, let's first take a look at the housing prices in these five cities. Among these five cities, San Francisco has the highest housing prices. In March 2021, the median transaction price of a single house was $1.4897 million, while Chicago was last, with a median transaction price of $305,300.
Here we consider data for all residential property types, including condos, co-ops, and single-family/multi-family properties.
New YorkCity: Credit to mike-chavarri-553396/unsplash.com
Boston: Credit to Lance Anderson/ Unsplash.com
LosAngeles: Credit to Owen CL/ Unsplash.com
SanFrancisco: Credit to Ananth Pai / Unsplash.com
Chicago:Credit to Sawyer Bengtson /Unsplash.com
( New York Manhattan data includes various house types, so price fluctuations will be relatively large)
â—†New York: The overall housing price market has a year-on-year growth rate of approximately 13.7%, and the low-end real estate market has the highest growth rate of the three, with an increase of approximately 14.5%
From the monthly observation and comparison of the housing price index in New York City, starting from June 2020, the month-on-month growth rates of and have continued to grow until 2022. Compared with the previous month, the growth rates are all positive, and the housing price index continues to rise every month. Since August 2021, the growth rate has been below 1% for three consecutive months, and the monthly growth rate has gradually slowed down. The growth rate in March 2022 is about 1.6%. Entering the spring peak season, housing market prices show a continued growth trend.
Data source: FRED Chart: Youtoufang
New York City’s overall house price index increased by 13.68% in March 2022 compared with the same period last year. It is subdivided into low, medium and high housing price ranges for observation. Among them, the price growth of low-end real estate was the fastest among the three, with an increase of 14.51% compared with the same period last year. The price of mid-range real estate increased by 12.95% compared with the same period last year, and the growth rate was relatively slow; while the price of high-end real estate increased by 13.01% compared with the same period last year.
Data source: FRED
â—†Boston: The overall house price is about 14.6%, the high-end real estate market is about 17%, the three are the highest
The overall market in Boston has increased by 14.55% compared with the same period last year, and the low-end real estate market has been relatively flat, with a year-on-year growth rate of about 12.75%; the mid-range market is slightly higher, about 13.18%, and the high-end real estate market performs best, with a year-on-year growth rate of about 16.95%.
Data source: FRED
â—†Chicago: The year-on-year growth rate has grown steadily, and the overall real estate market has increased by approximately 13% compared with the same period last year.
Chicago’s real estate market in March 2022 increased by 12.98% compared with the same period last year. Among them, the price growth rate of low-end properties is approximately 14.83%, that of mid-range properties is 11.84%, and that of high-end properties is 11.77%.
Data source: FRED
â—†Los Angeles: The overall housing price market has a year-on-year growth rate of approximately 23.2%, and the high-end real estate market is the highest among the three, with an increase of approximately 24.4%
The overall real estate market in Los Angeles in March increased by 23.19% compared with the same period last year, and the three categories The growth rates of real estate are close, with the growth rates of high-end, mid-range and low-end real estate being 24.38%, 22.54% and 18.49% respectively.
Data source: FRED
â—†San Francisco: The housing price growth has been impressive, with the overall housing price increasing by about 24.1% and the high-end market increasing by 25.1%
Although the rising momentum of housing prices in San Francisco has slowed down slightly since the fall of 2021, compared with the same period last year, 3 Overall house prices still increased by 24.08% in March. The year-on-year growth rate of the high-end market was higher than that of mid- and low-end housing prices, about 25.12%; the growth rates of mid- and low-end housing prices were 23.05% and 17.38% respectively. It is the city with the most impressive year-on-year housing price growth among the five major cities where Chinese people live.
Data source: FRED
Data source: Youtoufang utofun.com, Case Shiller
Picture source: Youtoufang utofun.com, Internet
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