U.S. Housing Prices Continue Record-Breaking Pace

July marked four straight months of record-breaking increases for housing prices nationwide, according to the latest housing market data.

1 minute read

September 30, 2021, 9:00 AM PDT

By James Brasuell @CasualBrasuell

Lawns and Suburban Homes

Johnny Habell / Shutterstock

"Home prices continued their meteoric rise in July, increasing at a record 19.7% annually, as a greater supply of houses for sale drew eager buyers willing to pay top dollar," reports Tim Smart for the U.S. News and World Report, citing data from the S&P Corelogic Case-Shiller index released this week.

The new figures continue a record-setting trend. "July's increase followed an 18.7% increase in June, marking the fourth consecutive month of record price appreciation," adds Smart.

Prices are rising faster in some places than others. According to the data, prices are rising fastest in Phoenix, San Diego, and Seattle, "with gains of 32.4%, 27.8% and 25.5%, respectively." Prices seem to be rising almost everywhere, however: "Seventeen of the 20 cities surveyed saw higher price increases in the year ending July 2021 versus the year ending June 2021," writes Smart.

The article includes a soundbite from an expert who predicts the market should soon mellow into more typical seasonal patterns.

The rising cost of homeownership is mirrored in recent months by the rising cost of rent, leaving little room for opportunity in the housing market for anyone at low- and middle-income ranges in either market.

Tuesday, September 28, 2021 in U.S. World News and Report

Large blank mall building with only two cars in large parking lot.

Pennsylvania Mall Conversion Bill Passes House

If passed, the bill would promote the adaptive reuse of defunct commercial buildings.

April 18, 2024 - Central Penn Business Journal

Aerial view of Oakland, California with bay in background

California Exodus: Population Drops Below 39 Million

Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.

April 11, 2024 - Los Angeles Times

Wood-frame two-story rowhouses under construction.

Fair Housing Cannot Take a Back Seat to ‘Build, Baby, Build’

If we overlook fair housing principles in the plan to build US housing back better, we risk ending up right back where we started.

April 11, 2024 - James Jennings

High view of woman walking in parking lot with red and white cars visible at left.

Non-Roadway Traffic Deaths On the Rise

A growing number of traffic deaths occur in driveways, parking lots, and other non-roadway spaces.

27 minutes ago - Streetsblog USA

Purple jacaranda trees in bloom in Los Angeles with tall white Art Deco buildings in background.

LA County Releases Draft Community Forest Management Plan

LA County's Chief Sustainability Office just released the discussion draft of Room to Grow, the first Community Forest Management Plan for the county.

April 21 - Los Angeles County Chief Sustainability Office

Aerial view of downtown Seattle, Washington at dusk.

Seattle Downtown Plan Expands Permitted Uses

The Downtown Activation Plan shifts from Euclidean to form-based zoning to encourage more commercial development.

April 21 - Governing

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.