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April Case-Shiller US Home Price Index Rises Faster Than in Previous Month

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The Case-Shiller National Home Price index rose by 0.8% in April before seasonal adjustment following a 0.7% increase in March.

National home prices were up 0.9% year-over-year.

The 10-city index increased by 1.1% in the month, while the 20-city index was up 1.0%.

National home prices were down 0.2% month-over-month in April after seasonal adjustment, with the 10-city measure up 0.04% and the 20-city measure down 0.04%. A survey compiled by Bloomberg as of 7:35 am ET expected the 20-city index to decrease by 0.10%

The monthly home price index report from S&P CoreLogic Case-Shiller measures single-family home prices across the US with a two-month lag, broken down by city, with combined measures of the 10 and 20 largest cities and a national index. Case-Shiller reports percentage gains both from the previous month and a year earlier.

Higher home prices are inflationary and are usually negative for bonds. The possible outcome for housing-related stocks is mixed, as higher prices suggest strong demand, but prices that are accelerating too fast can also deter potential buyers.

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