Prices for U.S. homes continued their upward trend in April, rising 6.4 percent since April 2017, according to the S&P CoreLogic Case-Shiller Index.
The rate was a slight decrease from March’s 6.5 percent year-over-year gain.
The 10-City Composite recorded an annual increase of 6.2 percent, and the 20-City Composite saw a 6.6 percent jump compared with last year.
The highest price surges in the country continued to come from Seattle, Las Vegas and San Francisco, which recorded 13.1, 12.7 and 10.9 percent annual increases, respectively.
“The favorable economy and moderate mortgage rates both support recent gains in housing,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.
Prices continue to rise due to the ongoing low supply of homes for sale, he added.
