US Home Prices Rise 0.8% in April as Real Values Fall for 11th Straight Month
Updated
Updated · HousingWire · Jun 30
US Home Prices Rise 0.8% in April as Real Values Fall for 11th Straight Month
3 articles · Updated · HousingWire · Jun 30
Summary
April’s S&P Case-Shiller national index rose 0.8% from a year earlier to 332.68, a slight pickup from March’s 0.7% gain but still signaling a largely flat market.
Inflation at 3.8% and 30-year mortgage rates back up to 6.3% in April outpaced nominal price growth, pushing U.S. home values lower in real terms for an 11th consecutive month.
City data showed only modest acceleration: the 10-city index gained 1.8% annually and the 20-city index 1.1%, while monthly gains in both composites cooled from March.
Chicago led the top 20 metros with a 6.5% annual rise, followed by New York at 3.8%, while Seattle fell 2.3%, underscoring a wide regional split with Midwest and Northeast markets outperforming the Sun Belt and West.
More current HousingWire data for late June pointed to further softness, with the median list price at $450,000—down 3.2% from a year earlier and flat from a month ago.