US home price growth slows further to 3.5% in April

Tuesday, 25. June 2019 15:03

Prices of homes in all nine census divisions in the United States grew by 3.5% in April on an annual basis, decelerating from a 3.7% growth recorded in the month before, according to an update from S&P CoreLogic Case-Shiller released on Tuesday. The National Index was 0.9% higher in April month on month, before seasonal adjustment, the report noted.

The 10-City Composite data also showed a slight acceleration in year-over-year annual growth, at 2.3%, up from 2.2% in March, while the 20-City Composite rise slowed from 3% to 2.7% at the same time. The largest gains were observed in Las Vegas, Phoenix and Tampa 7.1%, 6% and 5.6%, respectively. In nine out of 20 cities, housing price growth accelerated, the report noted.

Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices said: "Home price gains continued in a trend of broad-based moderation. Year-over-year price gains remain positive in most cities, though at diminishing rates of change. Seattle is a notable exception, where the YOY change has decreased from 13.1% in April 2018 to 0.0% in April 2019."

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