Case-Shiller Reports Highest Yearly Gain Since 2006
Highlights of today's Case-Shiller report for April home prices:
1. Annual growth rates of all 20 MSAs and the 10- and 20-City Composites improved in April compared to March 2010.
2. The 10-City Composite is up 4.6% from where it was in April 2009, and the 20-City Composite is up 3.8% versus the same time last year (see top two charts). These two year-to-year improvements were the highest annual percentage gains since September 2006.
3. 18 of the 20 MSAs and both Composites saw improvement in prices as measured by April versus March monthly changes.
4. The strongest year-to-year price gains were in California, with San Francisco leading the 20 MSAs with an 18% increase from April 2009-April 2010, followed by San Diego (11.7%) and Los Angeles (7.8%). Strong gains were also reported for Minneapolis (9.5%), Washington D.C. (7.3%), Cleveland (6.8%) and Phoenix (5.5%), see table above (click to enlarge).