United States home prices experienced a 5.2 percent annual gain in March, a slight decrease from 5.3 percent in February, according to the S&P/Case-Shiller U.S. National Home Price Index.
The 10-City and 20-City Composites’ year-over-year increases in March of 4.7 percent and 5.4 percent, respectively, were unchanged from the prior month.
Portland reported the highest year-over-year gain in home prices in March with a 12.3 percent increase. Portland was followed by Seattle, with a 10.8 percent gain, and Denver, with a 10.0 percent increase.
“Home prices are continuing to rise at a 5 percent annual rate, a pace that has held since the start of 2015,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates.”
Month-over-month, the National Index reported a 0.1 percent gain in March. The 10-City Composite increased 0.8 percent and the 20-City Composite went up 0.9 percent in March.
