U.S. Home Prices Show Mixed Trends as December Data Highlights Regional Variations

While national home prices rose slightly in December, some previously high-demand markets experienced declines, reflecting uneven growth across the country.

• The S&P CoreLogic Case-Shiller Index reported a 3.9% annual increase in U.S. home prices for December, with a modest 0.06% rise in San Diego after months of decline.
• San Francisco, San Diego, and Tampa saw home prices drop during the second half of 2024, with declines of 11%, 2.9%, and 2.7%, respectively, from their prior peaks.
• The Federal Housing Finance Agency noted a 4.7% annual increase in house prices nationwide, despite higher mortgage rates and improving housing supply.
• Regional disparities were evident, with the Middle Atlantic region leading monthly price growth in December, while some areas in the West reported slight decreases.
• Economists predict continued moderate price increases in 2025 due to limited housing inventory and affordability challenges driven by elevated mortgage rates.

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Times of San Diego Investopedia