Overview

• The S&P CoreLogic Case-Shiller US National Home Price Index recorded a 6% increase in January, the sharpest year-over-year rise since November 2022.
• San Diego experienced the highest jump with an 11.2% increase in home prices, followed by Los Angeles with an 8.6% rise.
• High mortgage rates, nearing 7% in March, continue to exacerbate the home affordability crisis for many Americans.
• Despite a general downtrend in monthly home prices due to elevated borrowing costs, some cities like San Diego and Los Angeles still report price increases.
• The Federal Reserve's interest rate hikes, aimed at curbing inflation, have indirectly contributed to the rise in home prices.