U.S. home prices in April rose at their fastest pace since 2005, as bidders scrambled to compete for a tight supply of properties. The S&P CoreLogic Case-Shiller index, which tracks housing prices in 20 U.S. cities, logged a 15 percent rise in April compared to a year prior. March’s yearly increase was just 13.4 percent.
The pandemic has seen many families move away from city centres in search of more space. Low mortgage rates have also helped to fuel demand. Yet even with sales slowing, as more and more buyers are priced out, analysts see no sign of prices moderating any time soon. April’s yearly gains outstripped March’s in all 20 markets surveyed by the index.
