House prices are up 10.9% in March compared to a year ago as the S&P Case-Shiller 20-city house price index posted its highest annual gains since 2006.
Standard & Poor’s reported Tuesday morning that prices in all 20 cities recorded annual gains ranging from 22.5% in Phoenix to 2.6% in New York.
“Home prices in all 20 cities posted annual gains for the third month in a row. Twelve of the 20 cities saw prices rise at double-digit growth,” according to David Blitzer who chairs S&P’s index committee.
On a monthly basis, the
Average home prices across the U.S. are now back to their mid-2003 levels.
