MARKET PULSE Archives June 25, 2013, 9:06 a.m. EDT Home prices see record jump in April: Case-Shiller Stories You Might Like U.S. durable-goods orders climb 3.6% in May US Airways flight attendant arrested with handgun in… Financial Press: Why more men are getting Naked -… 32 Comments By Ruth Mantell WASHINGTON (MarketWatch) -- Prices for U.S. homes leaped in April, posting record monthly growth and the fastest year-over-year growth in seven years, according to S&P/Case-Shiller data released Tuesday. With gains in 19 of 20 cities, the 20-city composite index rose 2.5% in April, the largest monthly growth on record. The data go back to 2000. After seasonal adjustments, prices rose 1.7% in April. Compared with the same period in the prior year, prices in April rose 12.1%, the fastest annual pace since 2006. San Francisco posted the largest year-over-year price growth at 23.9%, while New York had the lowest at 3.2%. Economists had expected that U.S. home prices rose in April, supported by low inventory and demand spurred by low interest rates. Despite recent gains, the 20-city composite index indicated that prices remain about one-quarter below a 2006 peak. Elsewhere Tuesday, a separate reading on home prices from the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, showed a seasonally adjusted gain of 0.7% in April. Read the full story:
Posted on: Wed, 26 Jun 2013 00:49:33 +0000
Trending Topics
Recently Viewed Topics
© 2015