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6/30, 3:01 PM (Source: TeleTrader)
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US home prices up 4.7% YoY in April

Prices of homes in all nine census divisions in the United States rose by 4.7% in April on an annual basis, accelerating by 0.1 percentage points compared to the previous month, a report from S&P CoreLogic Case-Shiller showed on Tuesday.

The 10-City Composite grew by 3.4%, retaining the same level from March, while the 20-City Composite yearly increase stood at 4%, up by 0.1 percentage points in comparison to the month prior. The largest price gains were observed in Phoenix, Seattle and Minneapolis. According to data, housing price growth accelerated in 12 out of 19 cities.

"As was the case in March, we have data from only 19 cities this month, since transactions records for Wayne County, Michigan (in the Detroit metropolitan area) continue to be unavailable. This is, so far, the only directly visible impact of COVID-19 on the S&P CoreLogic Case-Shiller Indices. The price trend that was in place pre-pandemic seems so far to be undisturbed, at least at the national level," Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices Craig J. Lazzara commented in the report.

Breaking the News / MS