US home prices recover further as buyers battle for tight supply of listings – The Denver Post

Patrick Clark | (TNS) Bloomberg News

Home prices in the U.S. rose for a third straight month, pushed up by growing buyer demand for a tight supply of listings.

A national gauge of prices increased 0.5% in April from March, according to seasonally adjusted data from S&P CoreLogic Case-Shiller.

The U.S. is in what’s traditionally its busiest homebuying season, with only about half the properties that were listed for sale in spring 2019. The inventory shortage is keeping a lid on transactions, but shoppers determined to seal a deal are often forced to pay more than the asking price in many areas of the country.

“The ongoing recovery in home prices is broadly based,” Craig Lazzara, managing director at S&P Dow Jones Indices, said in a statement Tuesday.

On a year-over-year basis, prices slipped 0.2%, compared with a 0.7% increase in March. Miami, Chicago and Atlanta reported the highest annual gains among the 20 largest cities.

The housing market is still adjusting to mortgage rates that have about doubled from early 2022, cutting into affordability for would-be buyers and discouraging current homeowners from moving.

Continued improvement “will depend on the how well the market navigates the challenges posed by current mortgage rates and the continuing possibility of economic weakness,” Lazzara said.

___

©2023 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

Read original article here

Denial of responsibility! Toys Matrix is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – admin@ toysmatrix.com . The content will be deleted within 24 hours.

Leave a comment
My title Page contents

https://tigaprediksi.com/

https://armynavysuperstores.com/

https://dutawarta.com/

https://woaynews.com/

https://pupwb.org/

https://haraznews.com/

https://hookdonthehudson.com

https://www.wlvliquors.com/wp-includes/slot-gacor/

https://toysmatrix.com/wp-includes/slot-gacor/