The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices rose 14.6% year over year in April.
This is a 30-year high and even stronger than the already hot 13.3% annual appreciation reported in March. The 20-city index rose from 13.4% to 14.9% year over year, with almost all the cities showing strong gains.
Phoenix (+22.3%), San Diego (+21.6%), and Seattle (+20.2%) continued to report the highest annual gains among the 20 cities.
The Federal Housing Finance Agency (FHFA) also released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts.
While you can have a million-dollar home with a conforming loan amount, the report most likely represents lower-priced homes, where supply is tightest and demand is strongest.
No comments:
Post a Comment