US: Home price gains broad-based boosted by pace of sales - Wells Fargo

Analysts at Wells Fargo, point out that US Home prices are rising solidly across much of the country. The S&P CoreLogic Case-Shiller National Home Price Index showed a gain of 0.4%  in March.

Key Quotes:

“Home prices rose 0.4 percent nationwide in March and are up 6.5 percent year to year. The 10-city index is also up 6.5 percent year-to-year, while the 20-city index is up 6.8 percent.”

“Home prices are rising across most of the country, with 19 of the 20 cities tracked posting seasonally-adjusted gains in March.”

“The combination of strong population and employment growth in many western tech-centric metro areas combined with the persistence of tight inventories of both new and existing homes continues to push prices higher.”

“Twelve of 20 covered markets reported stronger year-to-year price increases.”