July marked four straight months of record-breaking increases for housing prices nationwide, according to the latest housing market data.
"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.
FULL STORY: Home Prices Continue Record-Setting Pace, Rising 19.7 % in July
Housing Prices Rising Faster Than Any Point Since 2005
New home price data from CoreLogic puts numbers to the torrid 2021 housing market in the United States.
Miami Housing More Expensive Than New York City, Report Says
New data shows stratospheric housing costs in cities not named New York.
The Consequences of 'Runaway' Housing Prices
There's been no shortage of discussion and debate about what's causing the price of homes in the United States to skyrocket at record rates, but less discussion of the consequences for housing market trends on the broader economy.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
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.
Google Maps Introduces New Transit, EV Features
It will now be easier to find electric car charging stations and transit options.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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.
