US: Home Price appreciation moderates just a bit - Wells Fargo

Matías Salord FXStreet

According to analysts from Wells Fargo, the report of S&P/Case-Shiller showed that home prices rose modestly in April and explained that the recovery has not been broadly based.

Key Quotes:

“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.”

“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.”

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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