The superlatives are getting
tired – historic, record setting – but they have to come into play again with
the March home price gains. A spokesperson for S&P CoreLogic Case-Shiller called
the annual gains in those indices the highest in 15 years while the Federal
Housing Finance Agency (FHFA) said the growth in its data was more than twice
that posted a year earlier. The Case-Shiller National
Home Price Index increased at an annual rate of 13.2 percent in March, 1.2
point higher than the annual rate in February. The 10-City Composite Index rose
12.8 percent compared to 11.7 the prior month while the increase in the 20-City
Composite was 13.3 percent, up from 12.0 percent. On
a month-over-month basis, the National Index rose 1.5 percent on a seasonally
adjusted basis and 2.0 percent unadjusted. The 10-City and 20-City Composites posted
increases of 2.0 percent and 2.2 percent respectively before adjustment and 1.4
percent and 1.6 percent afterward. All 20 cities had monthly gains, both before
and after seasonal adjustments.

…(read more)

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