Home prices continued their upward surge in March, increasing 6.5 percent in March compared with March 2017, according to the latest S&P CoreLogic Case-Shiller Indices.
The 10-City Composite annual increase registered at 6.5 percent, an increase from 6.4 percent in February. The 20-City Composite held steady from the prior month, recording a 6.8 percent year-over-year gain.
Cities with the highest year-over-year home price gains were Seattle, Las Vegas and San Francisco, which registered annual increases of 13 percent, 12.4 percent and 11.3 percent, respectively.
Chicago reported the lowest 12-month home price gain, increasing 2.8 percent, according to David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.
“Until inventories increase faster than sales, or the economy slows significantly, home prices are likely to continue rising,” Blitzer said in a statement.
