Industry NewsMarkets & Economy

Real estate price index rises in April

Monthly gains in 18 of 20 metros

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A monthly 20-city home-price index rose 3.8 percent year-over-year in April, Standard & Poor's reported today. Two of 18 U.S. markets covered -- Miami and New York City -- experienced monthly index drops from March 2010 to April 2010. The Miami metro area dropped 0.2 percent from March to April in the seasonally adjusted S&P/Case-Shiller Home Price Indices, and 0.8 percent in the non-seasonally adjusted index. Meanwhile, the New York City metro fell 0.1 percent in the seasonally adjusted index and 0.3 percent in the non-seasonally adjusted index. The Washington, D.C., metro, had the highest monthly gain in the seasonally adjusted index, up 1.6 percent from March to April, followed by Detroit and Portland and San Francisco, all up 1.1 percent. Washington, D.C., also topped the list for its monthly gain in the non-seasonally adjusted index, up 2.4 percent. Nine of 20 metros experienced a year-over-year index drop in April, S&P also reported, while two market...