United States: Home prices increase again in March
May 26, 2015
In March, the unadjusted S&P/Case-Shiller 20-city home price composite index increased 0.9% over the previous month. The result followed the 0.5% increase registered in the previous month and was in line with market expectations.
Home prices rose 5.0% over the same month of last year, which matched the rise recorded in February. S&P pointed out that annual price increases were greater in 10 of the 20 cities surveyed.
According to the director of the index, “home prices have enjoyed year-over-year gains for 35 consecutive months. Given the long stretch of strong reports, it is no surprise that people are asking if we’re in a new home price bubble. I would describe this as a rebound in home prices, not a bubble and not a reason to be fearful.”
Author: Carl Kelly, Economist