US Home Prices Continue to Rise Amid Low Supply and High Demand

Home prices rose 0.7% nationally in March due to limited inventory and steep competition, according to the S&P CoreLogic Case-Shiller index. The 10-city composite fell 0.8% annually, while the 20-city composite fell 1.1% in March. Miami saw a 7.7% annual gain, making it the best-performing city for the eighth straight month. Conversely, Seattle prices plummeted 12.4%, edging out San Francisco with its 11.2% decline. The National Association of Home Builders/Wells Fargo Housing Market Index rose five points to 50, the highest reading since July.