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BREAKING: Home Prices See Record-Breaking Increase in April; New-Home Sales Highest Since 2008; Consumer Confidence Surges to 5-Year High

Home Consumer
June 25, 2013
Reading Time: 2 mins read

A wave of positive housing news flooded financial newswires this morning.

Data through April 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, a leading measure of U.S. home prices, showed average home prices increased 11.6 percent and 12.1 percent for the 10- and 20-City Composites in the 12 months ending in April 2013.

From March to April, the 10- and 20-City Composites rose 2.6 percent and 2.5 percent. All 20 cities and both Composites showed positive year-over-year returns for at least the fourth consecutive month. Atlanta, Dallas, Detroit and Minneapolis posted their highest annual gains since the start of their respective indices.

“The 10- and 20-City Composites posted their highest monthly gains in the history of S&P/Case-Shiller Home Price Indices,” says David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “Thirteen cities posted monthly increases of over two percentage points, with San Francisco leading at 4.9 percent.” The recovery is definitely broad based. The two Composites showed the largest year-over-year gains in seven years.

In more positive housing news, the Commerce Department said today that new-home sales increased

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Beth McGuire

Beth McGuire

Recently promoted to Vice President, Online Editorial, Beth McGuire oversees the editorial direction and content of RISMedia’s websites, and its daily, weekly and monthly newsletters. Through her two decades with the company, she has also contributed her range of editorial and creative skills to the company’s publications, content marketing platforms, events and more.

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