Map Shows Biggest Winners and Losers of America’s Housing Market Divide
Summary
Housing prices increased the most in Chicago and New York City in May, according to the S&P CoreLogic Case-Shiller Index. Meanwhile, home prices in many cities in the West and South, like Las Vegas and Seattle, fell, showing a growing divide in the U.S. housing market after the pandemic.Key Facts
- Chicago had the largest yearly home price increase at 6.9% in May.
- New York City and Cleveland also saw price rises of 4.2% and 3.1%, respectively.
- Las Vegas home prices dropped by 1.9%, the biggest decline among tracked cities.
- Seattle and Denver prices each fell by about 1.8% year-over-year.
- Tampa’s housing prices decreased by 1.6%, following a pandemic boom and increased supply.
- Nationally, home prices rose 1.1% compared to last year, but inflation at 4.2% outpaced these gains.
- The Northeast and Midwest markets have strong demand but limited home supply.
- Western and Southern markets face declining prices due to less demand and more available homes.
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