Steel Markets

Home Prices Accelerate to Highest Annual Rate in 15 Years
Written by Sandy Williams
March 30, 2021
Home prices soared in January to an 11.2% annual gain, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The January rate jumped from 10.4% in December and was the highest annual rate gain since 2006.
The 20-city composite posted an 11.1% annual gain with all cities reporting higher prices, led by Phoenix, Seattle and San Diego.
“January’s data remain consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes,” said Craig Lazzara, managing director and global head of index investment strategy at S&P DJI. “This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years.” Lazzara added that it is still unclear if the shift from cities will be permanent.
On a month-over-over month basis, prices rose in 19 of the 20 cities. The only city to see a decline in the 20-city segment was Cleveland, Ohio, dipping just 0.1%.
Another home price index, the Federal Housing Finance Agency House Price Index, showed home prices up 12% from January 2020 to January 2021.
“While house prices experienced historic growth rates in 2020 and into the new year, the monthly gains appear to be moderating,” said Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics. “House prices increased by 1.0% in January, which is relatively still high, but represents the smallest month-over-month gain since June 2020.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Glenfarne Alaska LNG and POSCO ink preliminary partnership
Glenfarne Alaska LNG and POSCO signed a preliminary strategic agreement during the GasTech Conference in Milan on Thursday.

Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...

Hot-rolled market participants say ‘doldrums’ to roll on through year-end
Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year.

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]