Home Prices Increase More Than Forecasted

Analysis from S&P CoreLogic Case-Shiller showed that home prices in 20 U.S. cities rose higher than predicted levels.

Bloomberg Markets reports that the study’s 20-city property values index rose 5.8 percent year-over-year, higher than the estimated 5.7 percent. Home prices are continuing to increase in the northwest part of the country, as well as in Denver, Dallas and Las Vegas. The top three cities in year-over-year appreciation were Seattle (up 13.5 percent), Portland, Oregon (up 7.6 percent), and Las Vegas (up 7.4 percent).

“While the gains in home prices in recent months have been in the Pacific Northwest, the leadership continues to shift among regions and cities across the country,” David Blitzer, chairman of the S&P index committee, said in a statement. “Rebuilding following hurricanes across Texas, Florida and other parts of the south will lead to further supply pressures.”

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