U.S. single-family home prices rose in March and beat expectations, according to a closely watched survey reports Reuters.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 1.2 per cent in March on a seasonally adjusted basis. A Reuters poll of economists forecast 0.7 per cent.
“The year-over-year changes suggest that prices are rising more slowly,” David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. He said that only Denver and Dallas have set new post-crisis highs, and that they experienced relatively lower peak levels than other cities.
“Housing indicators remain mixed,” he said, and cited data such as April housing starts and new home sales.
Prices in the 20 cities rose 12.4 per cent year over year, topping expectations for 11.8 per cent.
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