25 June 2024
U.S. home prices continued to rise in April but at a slower pace, reflecting the impact of high mortgage rates on buyer demand. The S&P CoreLogic Case-Shiller 20-city house price index increased 0.4% from March and 7.2% year-over-year, down from the previous month’s 7.5% annual gain. While prices reached new record highs, the deceleration in growth indicates the housing market’s struggle with affordability issues due to elevated interest rates and limited inventory. San Diego led with the highest annual price increase of 10.3%, while Portland saw the slowest growth at 1.7%.