Home price report finds values stable

Home price report finds values stable

Home price report finds values stable

Naturally, home prices are the housing market data most important to potential home buyers and sellers.

Before mortgage rates, inventory, time on market, or any other measure, buyers and sellers want to know where prices are and where they’re headed.

This makes sense, after all. If you’re selling a house, you want to get the best price. And, if you’re buying one, you also want to get the best price.

That’s why the S&P Case-Shiller Indices are closely followed. Considered the leading measure of U.S. home prices, the index has been keeping records for more than 27 years.

According to the most recent release, prices remain steady, with small increases seen both month-over-month and annually.

Craig J. Lazzara, managing director and global head of index investment strategy at S&P, says home values have been remarkably stable, despite the economic turmoil caused by the coronavirus.

“April’s housing price data continue to be remarkably stable,” Lazzara said. “The National Composite Index rose by 4.7 percent in April 2020, with comparable growth in the 10- and 20-City Composites (up 3.4 percent and 4 percent, 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.”

Home value changes for Las Vegas and California markets

S&P CoreLogic Case-Shiller Indices are revised for the prior 24 months period, based on any additional source of datasets.

Metropolitan AreaApril 2020
Level
April/March
Change (%)
March/February
Change (%)
1-Year
Change (%)
Las Vegas200.290.8%1.0%4.7%
Los Angeles295.880.7%1.1%4.1%
San Francisco276.380.7%2.1%2.8%
Home value changes for Las Vegas and California April, 2020

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