Home prices rose 4.4% year-over-year in March, according to CoreLogic Case-Shiller Indices, an increase from February’s 4.2% annual gain.
The 10-City Composite grew 3.4%, and the 20-City Composite grew 3.9%.
“Housing prices continue to be remarkably stable,” S&P Dow Jones Indices Spokesperson Craig Lazzara stated. “...Housing prices have not yet registered any adverse effects from the governmental suppression of economic activity in response to the COVID-19 pandemic. As much of the U.S. economy remained shuttered in April, next month’s data may show a more noticeable impact,” Lazzara added.
Phoenix, Seattle and Charlotte had the highest year-over-year gains in March, growing 8.2%, 6.9% and 5.8%, respectively. The indices were unable to include data from Detroit due to delays caused by the COVID-19 crisis.
