In the US, the S&P Case-Shiller National Home Price Index decreased by 0.2 percent in April compared to the same month of the previous year.
S&P CoreLogic Case-Shiller has released the national home price index data for April.
Accordingly, the national housing price index in the USA decreased by 0.2 percent in April compared to the same period of the previous year. The index rose 0.7 percent year-on-year in March.
The national housing price index increased by 0.5 percent on a monthly basis in April, in seasonally adjusted terms.
The index for housing prices in 20 US cities fell by 1.7 percent year-on-year in April. The index, which fell below market expectations, was expected to decrease by 2.6 percent in this period. The index, which has been falling for two consecutive months, also decreased by 1.1 percent in March.
In the said period, the index increased by 0.9 percent on a monthly basis, adjusted for seasonal effects.
Among the 20 cities in the index, the cities with the highest annual increase in housing prices are; Miami with 5.2 percent, Chicago with 4.1 percent and Atlanta with 3.5 percent.
In the same period, housing prices increased by 12.4 percent in Seattle, 11.1 percent in San Francisco, 6.6 percent in Las Vegas, 6.1 percent in Phoenix, 5.6 percent in San Diego and Portland. It fell 5.2 percent, 4.5 percent in Denver, and 3.2 percent in Los Angeles.
Stating that the US housing market continued to strengthen in April, S&P DJI General Manager Craig Lazzara, whose views were given in the statement, reminded that housing prices peaked in June last year, declined until January and then started to recover.
Noting that the decline in house prices that started in June 2022 ended in January this year, April data should support this claim, Lazzara said, “Whether we will see more support for this view in the coming months, the difficulties created by the current mortgage rates of the market and the ongoing economic weakness. “It will depend on how well you manage the possibility,” he said.