As the Housing Market Rebounds, These Cities Are Seeing Home Prices Rise the Fastest

The S&P CoreLogic Case-Shiller national home price index rose 1.3% in April from the prior month, marking the third consecutive month of increases. All 20 major metro markets reported month-over-month price increases, but the housing market is still divided regionally, according to Insider.

The biggest annual increases were reported in Miami, Chicago, and Atlanta, where home prices rose 5.2%, 4.1%, and 3.5%, respectively. On the contrary, Seattle and San Francisco saw the biggest year-over-year price declines of 12.4% and 11.1%, respectively.

"If I were trying to make a case that the decline in home prices that began in June 2022 had definitively ended in January 2023, April's data would bolster my argument," Craig J. Lazzara, managing director at S&P DJI, said in a statement. "Whether we see further support for that view in coming months will depend on how well the market navigates the challenges posed by current mortgage rates and the continuing possibility of economic weakness."

"The ongoing recovery in home prices is broadly based," Lazzara said. "Before seasonal adjustments, prices rose in all 20 cities in April (as they had also done in March). Seasonally adjusted data showed rising prices in 19 cities in April (versus 14 in March)."

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