Home price growth in the US accelerated in March, leading into the widespread lockdowns imposed by states to deter the spread of the novel coronavirus.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 4.4% annual gain in March, up from 4.2% a month earlier. The 20-City Composite posted a 3.9% annual gain, up from 30.5% in February — beating analysts’ estimates of 3.4%, according to Bloomberg. However, the 20-City Composite really represents 19 cities because there were delays in transaction records for the Detroit metro area (Wayne County, Mich.) due to the novel coronavirus.
“Housing prices continue to be remarkably stable,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a press statement, adding that the gains continue “a trend of gently accelerating home prices that began last autumn. March results were