Tuesday, June 25, 2013

Home Prices Continued to Rise in April

Existing home prices rose 2.5% in April, according to the Case-Shiller’s 20-city index. Gains from one year ago accelerated, with the 20-city index rising 12.1% above its April 2012 pace. April’s year-ago gain in the strongest since February 2006. The 10-city index improved as well, growing 2.6% from the previous months pace, and 11.6% above year-ago levels.

Since January, all metro regions reported price gains on a year-ago basis. Such geographically widespread gains have not been seen in almost five years. The gains in home prices ranged from a low of 3.2% in New York to a high of 23.9% in San Francisco.

Although home prices have seen strong growth in recent months, the growth is coming from depressed levels. The 20-city index remains 26.2% below its 2006 peak.

Read Standard and Poor's release.

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