Home Price Gains Ease in Latest Case-Shiller Index

Blitzer cites concerns about the upcoming presidential election weighing on homebuyers.

NEW YORK CITY—Year-over-year home price gains eased in April, with each of the three S&P/Case-Shiller Home Price Indices down a percentage point from the previous month, according to S&P Dow Jones Indices data released Tuesday. Leading the way with annual increase were three Western cities—Portland, Seattle and Denver—although markets in other regions have joined these three metro areas in setting new highs.

All 20 cities posted Y-O-Y gains in the 20-City Composite, which posted a 1.1% gain from the month before. On a Y-O-Y basis, the index posted an annual gain of 5.4% for April, in line with a median forecast of economists polled by Bloomberg Business but down from 5.5% in March. April’s 10-City Composite at 4.7% and the US National Home Price Index at 5.0% compared to annual gains of 4.8% and 5.1% in March, respectively.