US house prices accelerate in April
US house prices advanced in April, driven higher by an increase in sales and low inventories.
Data provider CoreLogic said house prices grew 2.7% month-on-month in April, bringing the year-on-year increase to 6.8%, as the sector benefited from a strong performance throughout spring, which is traditionally the strongest portion of the year for the housing industry.
“Old-fashioned supply and demand, fueled by historically low mortgage rates and improving consumer finances and confidence, continue to push home prices up,” said Anand Nallathambi, president and chief executive of CoreLogic.
The other two major house price gauges also pointed to an upturn in the market - the Case-Shiller/20-city composite rose 5% in the year to March, and the FHFA house price report showed a 5.2% gain in the 12 months to March.