Here’s how much LA home prices have gone up – NBC Los Angeles

Home prices across the country have been rising over the past year, including in Los Angeles, but there are signs of a slowdown.

In Los Angeles, there was a 22% price increase from February 2021 to February 2022, according to the S&P CoreLogic Case-Shiller US National Home Price NSA Index. Just between January and February of this year, Los Angeles saw a 3.2% increase in house prices.

The index showed house prices rose 19.8% nationally in the period from February 2021 to February 2022, compared to an annual increase of 19.1% in January.

As inflation began to drive up interest rates, house prices also rose.

The largest increases were seen in cities in the Sun Belt, including Phoenix (32.9%), Tampa (32.6%) and Miami (29.7%).

Lesser gains? These were in Minneapolis, New York and Washington, D.C.

Experts say these prices could fall as the economy begins to rebalance in a post-pandemic fashion.

“The macroeconomic environment is changing rapidly and may not support extraordinary home price growth for long,” S&P DJI chief executive Craig Lazzara wrote in a press release. “The recovery in general economic activity after Covid fueled inflation and the Federal Reserve began to raise interest rates in response. We may soon begin to see the impact of rising mortgage rates on house prices.

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