According to the S&P Dow Jones Indices released this week for April 2020 showed that home prices continued to increase at a steady pace. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers nine U.S. census divisions, reported a 4.7% annual jump in April. This is up nearly 5% over the previous month. The 20-City Composite registered a 4% year-over-year increase—up 3.9% from last month.
“April’s housing price data continue to be remarkably stable,” says Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices. “The National Composite Index rose by 4.7% in April 2020, with comparable growth in the 10- and 20-City Composites (up 3.4% and 4.0%, respectively). In all three cases, April’s year-over-year gains were ahead of March’s, continuing a trend of gently accelerating home prices that began last fall. Results in April continued to be broad-based. Prices rose in each of the 19 cities for which we have reported data, and price increases accelerated in 12 cities.”
Once again, positive news coming from the housing sector as we continue to navigate through murky waters.