Published by Breitbart | June 29, 2021
Home prices in April jumped 14.6 percent compared with a year ago
Home prices in April jumped 14.6 percent compared with a year ago, up from a 13.3 percent rise in March, according to an updated report by the S&P CoreLogic Case-Shiller National Home Price Index.
This is the fastest annual pace on record, beating the housing bubble high of 14.3 percent in 2005. On a monthly and seasonally adjusted basis, home prices nationally rose 1.6 percent, also an all-time high.
“April’s performance was truly extraordinary. The 14.6 percent gain in the National Composite is literally the highest reading in more than 30 years of S&P CoreLogic Case-Shiller data.”
–Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI
In addition to the national index, Tuesday’s release included both the index of the ten and 20 largest cities. The 10-city composite was up 14.4 percent year over year, an acceleration from March’s 12.9 percent annual gain. That’s the biggest annual jump on record since January 2006.
Compared with a month ago, prices in the 10-city index were up 1.4 percent. That’s actually a deceleration from March’s 1.5 percent monthly gain.
The 20-city composite jumped 14.9 percent higher, compared with 13.4 percent in March. This is the fastest pace of annual price gains since December 2005.
Compared with a month ago, prices were up 1.6 percent, the biggest monthly gain since a short-lived spike in April 2013.
Economists had forecast a 1.2 percent gain for the 20-city index on a monthly basis and a 13.5 percent gain annually.