Economic Update - 1.3.22
Economic Update - 1.3.22

Featured topics:

  • Home Prices
  • COVID Cases, Guidelines, and Economic Impact
  • Independent Landlord Rental Performance
  • REITs: 2021 In Review
  • Building Materials Inflation
  • FOMC December Meeting
  • December Retail Activity
  • Notable Industrial Deals
  • Record Transaction Activity
  • Natural Gas Futures



• National home price growth has receded from its peak but continues to be strong, registering a 19.1% year-over-year increase in October, the latest month of data available from the S&P CoreLogic CaseShiller Home Price Index. Annual increases have slowed since reaching an all-time high of 19.9% in August but remain well above historical averages.

• Phoenix leads all metros in year-over-year growth for the 29th consecutive month, with home prices climbing by a staggering 32.3% since October 2020. Tampa and Miami remain standouts at 2nd and 3rd, where home prices rose 28.1% and 25.7%, respectively. The two Florida metros have maintained their strength after eclipsing their Western compatriots San Diego and Seattle over the summer, which had dominated growth alongside Phoenix for much of 2021.

• Historic home price growth continues to be a nationwide phenomenon, but the dominance of cities across the southwest and southeast throughout this cycle is indicative of changing locational preferences among homebuyers, with factors such as remote work expanding consumer choice in the housing market.