According to the carefully followed S&P Case-Shiler housing index, the value of residential real estate rose in February. Of the 20 cities measured, only one saw a drop. Tampa was down 1.46%, while the national figure was 3.87%.
New York had the largest jump at 7.7%.
Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices, commented, “Buyer demand has certainly cooled compared to the frenzied pace of prior years, but limited housing supply continues to underpin prices in most markets. Rather than broad declines, we are seeing a slower, more sustainable pace of price growth.”…