For the month of April, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.5% annual gain. Their 10-City Composite annual increase came in at 4.9% and their 20-City Composite posted a 5.7% year-over-year gain. Seattle led the way with a 12.9% year-over-year price increase, followed by Portland at 9.3%, and Dallas with 8.4%. Seven cities reported greater price increases in the year ending April 2017 versus the year ending March 2017.
“The question is not if home prices can climb without any limit; they can’t. Rather, will home price gains gently slow or will they crash and take the economy down with them? For the moment, conditions appear favorable for avoiding a crash.” Said David M. Blitzer Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.
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