WASHINGTON (AP) — U.S. home prices increased at a solid clip in April, led by double-digit jumps in Denver and San Francisco.
The Standard & Poor’s/Case-Shiller 20-city home price index rose 4.9 percent in April from 12 months earlier, roughly the same annual pace as March, S&P Dow Jones Indices said Tuesday.
Strong job growth and low mortgage rates have prompted greater demand for housing, boosting home values. But the continued gains are at roughly double the pace of wage growth, potentially pricing out many would-be buyers.
Other measures are showing faster increase in prices, reflecting a shortage of homes available in the market.
May sales figures from the National Association of Realtors found that median home prices increased 7.9 percent over the past 12 months to $228,700, about $1,700 shy of the July 2006 peak.
The market has just 5.1 months’ supply of homes, versus an average of six months in a healthy market.
- Posted July 01, 2015
- Tweet This | Share on Facebook
Home prices climb steadily in April

headlines Detroit
headlines National
- Facing deadline, California debates way forward on bar exam
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Jury awards nearly $60M to former police officer for wrongful prosecution in sex assault case
- Court clerk staffers in New Orleans dig through landfill to find wrongly tossed court records
- Once-jailed county clerk asks Supreme Court to overturn right to same-sex marriage
- Person accused in machete attack among those with dropped charges amid defense lawyer work stoppage