Home prices in the US are continuing to rise fast with even some of the ‘weaker’ growth outpacing inflation.
This week’s new S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all 9 census divisions, reveals a 6.5% gain in the 12 months to March, maintaining the pace of the previous month.
And Seattle, which has just been named America’s fastest-growing city by the US Census Bureau, is also leading the price gains.
"Seattle continues to report the fastest rising prices at 13% per year, double the National Index pace. While Seattle has been the city with the largest gains for 19 months, the ranking among other cities varies. Las Vegas and San Francisco saw the second and third largest annual gains of 12.4% and 11.3%. A year ago, they ranked 10th and 16th.”
Blitzer added that the inflation-adjusted data shows that even Chicago, which recorded the lowest annual rise (2.8%) among all the index’s cities was almost a point above inflation.
The 10-city composite index increased its gain to 6.5% (from 6.4% in February) and the 20-city composite held its 6.8% annual increase for a second month.
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