Increases in U.S. Home Price Decelerate in April – First Down Tick Since November 2021

On Tuesday (6-28-22), S&P CoreLogic Case-Shiller released its U.S. National Home Price NSA Index for April. The Index which covers all nine U.S. Census divisions, reported that home prices experienced a 20.4% annual gain in April, following a 20.6 % gain in March. The previous slight deceleration was in November of 2021.

The 10-City Composite annual increase came in at 19.7%, up from 19.5% in March. The 20-City Composite posted a 21.2 % year-over-year gain in April, up from 21.1% increase in March.

The highest year-over-year gain among the top 20-cities in April was led by Tampa at 35.8%, followed by Miami, with a 33.3% increase and Phoenix with a 31.3% increase. Nine of the 20 cities reported higher price increases in the year ending April 2022 versus the year ending March 2022.

Cities with the smallest gains, although still in double digits, were Minneapolis, Washington, and Chicago.

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