Home prices increased 20.4% year-over-year in April, according to the latest S&P CoreLogic Case-Shiller Indices. The gain is down slightly from the record-breaking 20.6% annual gain recorded in March.
The 10-City Composite annual increase was 19.7%, and the 20-City Composite annual increase was 21.2%.
“We continue to observe very broad strength in the housing market, as all 20 cities notched double-digit price increases for the 12 months ended in April,” S&P spokesperson Craig Lazzara said in a statement. “April’s price increase ranked in the top quintile of historical experience for every city, and in the top decile for 19 of them.”
Tampa, Miami and Phoenix reported the highest year-over-year home price gains among the 20 cities, recording surges of 35.8%, 33.3% and 31.3%, respectively.
