Home Prices Rise More Modestly in April
|Housing prices rose somewhat more modestly in April according to the latest S&P CoreLogic Case-Shiller report. The national index is now up 5.5 percent year-to-year, with the Pacific Northwest leading the way.
Home Price Appreciation Moderates Just a Bit
The S&P CoreLogic Case-Shiller National Home Price Index rose 5.5 percent over the year. The 20-City and 10-City indices rose 5.7 percent and 4.9 percent year-to-year, respectively.
The split between the 20-City and 10-City indices reflects some moderating price appreciation in New York City, Washington D.C. and Chicago, all in the 10-City index, and continued rapid gains in Seattle and Portland, which are in the 20-City Index
Recovery Has Not Been Broadly Based
With Atlanta joining the club this month, seven of the 20 markets tracked by the 20-City index have surpassed their previous peak. Home prices in five other metro areas remain at least 15 percent below their prior peak level.
Denver and Dallas are now 40.2 percent and 38.6 percent above their previous highs, respectively. Both areas had modest price drops during the downturn and have enjoyed strong recoveries.
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