United States: Home price growth accelerates to the fastest pace since December 2005 in April
The S&P/Case-Shiller 20-city composite home price index increased 2.1% month-on-month in April, after March’s 2.2% rise. When adjusted for seasonal factors, home prices were up 1.6% in April, which matched the previous month’s increase.
Home prices surged 14.9% in annual terms in April, up from March’s 13.3% jumped and marked the quickest pace of growth in over fifteen years. Gains were the strongest in Phoenix for 23 straight months, followed by San Diego and Seattle. Overall, all 20 cities registered price growth in April, with all but Chicago posting double-digit growth rates.