HOME PRICES UP 20.4% IN LAST YEAR

Key Points:

  • The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 20.4% in the year that ended in April, down from 20.6% in the previous month.
  • The 20-City Composite posted a 21.2% year-over-year gain, up from 21.1% in the previous month.
  • The 10-City Composite posted a 19.7% year-over-year gain, up from 19.5% in the previous month.
  • Tampa reported the highest gains among the 20 cities in April with a 35.8% year-over-year price increase, followed by Miami with a 33.3% increase, and Phoenix with a 31.3% increase.
  • The median existing-home sales price in May rose 14.8% from a year earlier to a record $407,600, the National Association of Realtors said earlier this month.
  • The Right Facts will continue to monitor home prices.
Source NAR