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The latest results for the S&P/Case-Shiller Home Price Indices showed year-over-year March increases in both the 10-City Composite (4.7 percent) and 20-City Composite (5.0 percent). The national home price index showed a 4.1 percent annual gain in March, and the national index also increased by 0.8 percent month-over-month in March.
Sales of new single-family houses in April rose 26.1 percent year over year to a seasonally adjusted annual rate of 517,000, according to a report jointly released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
On a monthly basis, they increased 6.8 percent in April from a revised March rate of 484,000.
The median sales price of new houses sold in April was $297,300. At the end of April, the seasonally adjusted estimate of new houses for sale was 205,000, representing a supply of 4.8 months at the current sales rate.
Zillow Mortgages numbers placed today’s 30-year fixed mortgage rate at 3.79 percent, up two points from this time last week.
The inaugural Coldwell Banker Residential Brokerage Luxury Market Report indicated that California home prices increased by 27 percent from 2012 to 2014. (Home prices throughout the entire U.S. increased by 11 percent during that same time period.)
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