The upward trend in home prices decelerated in April as the major markets reported a net 6.3% year-over-year price increase, according to the S&P CoreLogic Case-Shiller Indices.
The U.S. National Home Price NSA Index reported an all-time-high annual increase in March of 8.3%.
The 20-City Composite posted a year-over-year increase of 7.2% in April, dropping from a 7.5% increase in March.
"Last month's all-time high came with all 20 markets accelerating price gains. This month, just over half of our markets are seeing prices accelerate on a monthly basis,” Real & Digital Assets at S&P Dow Jones Indices Head of Commodities Brian Luke stated. “At 6.3% annual gains, the index has decelerated from the start of the year, with only two markets rising on an annual basis."
San Diego reported the highest annual gain among the 20 cities in April with a 10.3% increase, followed by New York and Chicago, with increases of 9.4% and 8.7%, respectively. Portland held the smallest year-over-year growth with a 1.7% annual increase in April.
