Tampa Bay is among cities with the largest percentage increase in residential real estate prices

Local News
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TAMPA, Fla. (WFLA) – Today S&P Dow Jones Indices released the latest report for the S&P CoreLogic Case-Shiller Indices, measuring trends of home prices across the country.

Data released today for March 2019 shows that, overall, the rate of home price increases across the U.S. has continued to slow, but Tampa Bay is still seeing some of the largest percentage increase in residential real estate prices.s

Tampa, Las Vegas, and Phoenix reported the highest year-over-year gains among the 20 cities surveyed.

Last March, Las Vegas had the highest home prices with an 8.2 percent year-over-year price increase, followed by Phoenix with a 6.1 percent increase, and Tampa with a 5.3 percent increase.

Four of the 20 cities reported larger price increases in  March 2019 versus February 2019.reported the highest year-over-year gains among the 20 cities.

The 20-City Composite also dropped from 6.7 percent  to 2.7 percent annual gains over the last year as well.

According to the report, existing single-family home sales are flat. Since 2017, peak sales were in February 2018 at 5.1 million at annual rates, while the weakest were 4.36 million in January of 2019. 

"The difficulty facing housing may be too-high price increases. At the currently lower pace of home price increases, prices are rising almost twice as fast as inflation," said managing director and chairman of the index committee at S&P Dow Jones Indices, David M. Blitzer said in a statement. "In the last 12 months, the S&P Corelogic Case-Shiller National Index is up 3.7 percent, double the 1.9 percent inflation rate. Measured in real, inflation-adjusted terms, home prices today are rising at a 1.8 percent annual rate. This compares to a 1.2percent real annual price increases in housing since 1975.”


Cities with the biggest increases in home prices

Take a look at some of the cities across the country with the biggest increases in residential real estate prices over the last few months. Hover over the bar to see the exact numbers.

 

Source: S&P Dow Jones Indices and CoreLogic Data through March 2019

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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