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.

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

The New York Public Library's stone lions Patience and Fortitude have donned face masks to remind New Yorkers to wear face coverings during the COVID-19 pandemic.

The Top Urban Planning Books of 2021

Planetizen's annual list of the top urban planning books of the year is here—maintaining a tradition that dates back to 2002.

November 26, 2021 - James Brasuell

Empty Road

The Roadway Expansion Paradox

Motorists want expensive roadway expansions provided that somebody else foots the bill, but when required to pay directly through tolls, the need for more capacity often disappears. What should planners do?

November 28, 2021 - Todd Litman

Moving

Urban Exodus: Data Don't Support the Popular Pandemic Narrative

Americans fled cities in waves during the pandemic, right? Not to so fast.

November 30, 2021 - Joint Center for Housing Studies of Harvard University

Metroway bus

Doubling Down on Bus Rapid Transit in Northern Virginia

Arlington County plans an expansion of the D.C. region's first Bus Rapid Transit line.

5 hours ago - ARLnow

California Homeless

Study: At Least 1,500 Unhoused Died on the Streets of L.A. During the Pandemic

New research represents the first detailed picture of death among people experiencing homelessness during the pandemic.

6 hours ago - The Guardian

A mile marker showing mile zero of the Great Allegheny Passage, which is a bike and pedestrian path that begins in Cumberland, Maryland and ends in Pittsburgh, Pennsylvania.

Measuring the Economic Impact of the Great Allegheny Passage

Small communities once dependent on coal, coke, paper, lumber, and manufacturing now have a 150-mile bike and pedestrian path contributing to the local economy.

7 hours ago - Pittsburgh Post-Gazette

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.

Hand Drawing Master Plans

This course aims to provide an introduction into Urban Design Sketching focused on how to hand draw master plans using a mix of colored markers.