Home Prices Rose 4.7% YOY in April, Says Case Shiller
New York, NY, June 30, 2020-Home prices made a 4.7% annual gain in April, up from 4.6% in the previous month, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions.
The 10-City Composite annual increase came in at 3.4%, remaining the same as last month.
The 20-City Composite posted a 4.0% year-over-year gain, up from 3.9% in the previous month.
Phoenix, Seattle and Minneapolis reported the highest year-over-year gains among the 19 cities (excluding Detroit) in April. Phoenix led the way with an 8.8% year-over-year price increase, followed by Seattle with a 7.3% increase and Minneapolis with a 6.4% increase. Twelve of the 19 cities reported higher price increases in the year ending April 2020 versus the year ending March 2020.
The National Index posted a 1.1% month-over-month increase, while the 10-City and 20-City Composites posted increases of 0.7% and 0.9% respectively before seasonal adjustment in April. After seasonal adjustment, the National Index posted a month-over-month increase of 0.5%, while the 10-City and 20-City Composites both posted 0.3% increases. In April, all 19 cities (excluding Detroit) reported increases before seasonal adjustment, while 16 of the 19 cities reported increases after seasonal adjustment.