U.S. Home Prices Rise Modestly in March
|All three S&P/Case-Shiller Home Price Indices (HPI) rose in March. While home price appreciation is showing some signs of moderating, particularly in gateway cities, prices remain up 5.4 percent year over year.
Home Prices Post Modest Gains
- The S&P/Case-Shiller U.S. National HPI rose a slight 0.1 percent in March, while the 20-City and 10-City indices recorded larger 0.9 percent and 0.8 percent gains, respectively.
- The U.S. National HPI has slowed to a 3.7 percent annual rate over the past three months, down from a 9.5 percent pace at the end of 2015. The 20-City and 10-City Composite indices have not decelerated, however.
Regional Trends
- Home prices in Seattle and Portland have surged at a 16.1 percent and 14.6 percent annual rate over the past three months, the fastest rates of the 20 cities reported.
- Home prices continue to be pulled higher by stronger job and income growth and unusually low inventories of homes for sale. Price appreciation has firmed in Dallas, Tampa and Atlanta, which are seeing strong job growth and increased in-migration
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