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5/25, 3:00 PM (Source: TeleTrader)
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US home prices up 13.2% in March - S&P/Case-Shiller

Prices of homes in all nine census divisions in the United States rose by 13.2% in March on an annual basis, accelerating by 1.2 percentage points compared to the previous month, a report from S&P CoreLogic Case-Shiller showed on Tuesday.

The 10-City Composite grew by 12.8%, 1.1 percentage points higher than in February, while the 20-City Composite yearly increase stood at 13.3%, up by 1.3 percentage points in comparison to the month prior. The largest price gains were observed in Phoenix, San Diego, and Seattle. According to data, housing price growth accelerated in all 20 cities.

"The National Composite's 13.2% gain was last exceeded more than 15 years ago in December 2005... This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years," Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices Craig J. Lazzara stated in the report.

Breaking the News / MS