S&P Dow Jones Indices (S&P DJI) announced on Tuesday its
Case-Shiller Home Price Index, which tracks home prices in 20 U.S. metropolitan
areas, recorded a 21.2 percent y-o-y jump in April, following a downwardly revised
21.1 percent y-o-y surge (from 21.2 percent y-o-y) in March. This marked the first acceleration in annual house price growth since
July. the quickest annual rise in
house prices on
record.
Economists had predicted a climb of 21.0 percent y-o-y.
Tampa (+35.8 percent y-o-y), Miami (+33.3 percent y-o-y), and Phoenix
(+31.3 percent y-o-y) posted the largest y-o-y gains among the 20 cities in
April.
Meanwhile, the S&P/Case-Shiller U.S. National Home Price Index,
which measures all nine U.S. census divisions, soared 20.4 percent y-o-y in April,
following a 20.6 percent y-o-y surge in the previous month.