Tuesday, May 26, 2015

Home Prices Steadily Increased in March

The 20-City Case-Shiller Composite gained 5.0% year-over-year in March, consistent with February’s gain. The 10-City Composite gained 4.7% in March from the previous year, down from the 4.8% year-over-year gain in February. The National Index recorded a 4.1% gain on an annual basis in March, compared to a 4.2% annual gain in February.

On a monthly basis, all three indices posted increases as the 10-City Composite increased 0.8%, the 20-City Composites rose 0.9% and the National Index rose 0.8%.

The increase this month brought the 10-city and 20-city indices back to their autumn 2004 level, but still remain roughly 15-16% below their June/July 2006 peak.

Only New York reported a monthly decline in March, falling 0.1%. San Francisco reported the highest monthly increase, rising 3.0%, followed by a 2.3% increase in Seattle.

Year-over-year, San Francisco increased 10.3%, the highest of the 20 cities, followed by 10.0% growth in Denver and 9.3% growth in Las Vegas. Cleveland and Washington reported the slowest year-over-year growth, increasing 1.0%, followed by a 2.7% increase in New York.

Read the S&P release.

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