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35 Consecutive Months of Higher Home Prices, but No Bubble Fears

Tuesday, May 26, 2015

The pace of price increases continued virtually unchanged in March with greater year-over-year appreciation in ten of the 20 cities tracked by S&P Dow Jones Indices than in February.  The National Home Price Index which covers all nine U.S. Census Divisions slipped slightly with a 4.1 percent annual gain in March compared to 4.2 percent the previous month.  The 10-City Composite Index was up 4.7 percent on an annual basis and the 20-City rose 5.0 percent, virtually the same annual increases they posted in February. 

San Francisco and Denver led in annual gains.  San Francisco's 10.3 percent increase was its first in double digits since last July and Denver was up 10.0 percent followed by Dallas at 9.3 percent.  Among the ten cities reporting higher appreciation in March than in February the largest differential was in Tampa, up 1.4 percent.  Cleveland had the largest deceleration, down 1.2 percent compared to the annual growth in February.


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