Home prices continue to rise in most of the country, but they reversed course in a few of the largest metro areas in April, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price Index.
The price index for the entire country rose at an annual pace of 6.4 percent in April, down from a 6.5 percent gain in March.
Metro Denver’s home price index rose 0.4 percent month-over-month and is up 8.6 percent on the year, which ranked fourth out of the 20 cities tracked. Seattle, Las Vegas and San Francisco all had double-digit annual gains.
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The home price indices for San Francisco and New York fell 0.3 percent month-over-month, and the one for Washington, D.C., fell 0.1 percent on a seasonally adjusted basis.
“More deceleration is needed in the months ahead to bring home price growth to a more sustainable path,” said Danielle Hale, chief economist for Realtor.com, in comments on Tuesday’s release.
