Home Prices Rise Less Than Expected

Business Insider

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Home for sale sign

i am real estate photographer via flickr

The 20-city S&P Case-Shiller home price index climbed 0.19% month-over-month in April. Expectations were for prices to rise 0.8%.

Year-over-year, home prices rose 10.82%, below expectations for an 11.5% year-over-year rise.

The Case-Shiller report showed that 19 of its 20 cities saw lower annual gains in April than March. 

The report's three California markets — Los Angeles, San Diego, and San Francisco — saw returns worsen by about 3%.

Boston was the only city that saw its annual rate improve. 

This chart from S&P shows the year-over-year change in home prices for Case-Shiller's 10-city and 20-city composite indices.

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April Case Shiller

S&P Dow Jones Indices

This chart from S&P shows the city-by-city breakdown of price increases. Of note are Detroit, which has seen prices increase 15% year-over-year, Las Vegas, which has seen prices rise 18.8% year-over-year, and San Francisco, which has seen prices rise 18.2% year-over-year.

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City by City Case Shiller April

S&P Dow Jones Indices

The FHFA reported that U.S. home prices were flat in April. The change for March remained 0.7%, as had been previously reported.

Year-over-year, the FHFA said home prices were up 5.9%, with the U.S. index 6.9% below its April 2007 peak and roughly the same as the July 2005 index level.



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