Case-Schiller HPI: Home Prices Set Record Monthly Rise in April

As of April 2013 the highest monthly gains in home prices occurred, according to the latest data from S&P Case-Schiller home price indices.

From March to April, the 10- and 20-city composites rose 2.6% and 2.5%, respectively. Meanwhile, on a yearly basis, average home prices increased 11.6% and 12.1% for the two composites.

All 20 cities and both composites showed positive year-over-year returns for the fourth consecutive month. Atlanta, Las Vegas, Phoenix and San Francisco posted gains of over 20% compared to April 2012.

On a monthly basis, Detroit was the only city that did not experience home price appreciation. Minneapolis showed the largest change in April with a gain of 2.9% compared to its March return loss of 1.1%. Other notable cities that experienced strong returns month-over-month were Los Angeles, San Diego and San Francisco with gains ranging from 3.4% to 4.9%. Furthermore, Miami showed its largest return in more than seven years with price increases of 2.4%.

“Thirteen cities posted monthly increases of over two percentage points, with San Francisco leading at 4.9%,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. “The recovery is definitely broad based. The two composites showed the largest year-over-year gains in seven years.”

Through the end of April, average home prices in the U.S. are back to their early 2004 levels.