According to the latest S&P CoreLogic Case-Shiller Indices, home prices are showing no signs of slowing down as prices continued to rise across the country over the last 12 months. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.5% annual gain in March. Their 10-City Composite annual increase came in at 6.5% and the ir 20-City Composite posted a 6.8% year-over-year increase. The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.
“…Looking across various national statistics on sales of new or existing homes, permits for new construction, and financing terms, two figures that stand out are rapidly rising home prices and low inventories of existing homes for sale. Months-supply, which combines inventory levels and sales, is currently at 3.8 months, lower than the levels of the 1990s, before the housing boom and bust…”