April S&P Case-Shiller Home Price Index: +1.7% M/M vs. +1.2% expected, +1.1% prior. On a Y/Y...
April S&P Case-Shiller Home Price Index: +1.7% M/M vs. +1.2% expected, +1.1% prior. On a Y/Y basis, prices rose 12.1%, the fastest pace since 2006. The unadjusted monthly gains in the 10 and 20-city composites (+2.6% and +2.5%) were the largest in the history of the survey. Not worried about the bump in mortgage rates, S&P's David Blitzer expects the gains to continue. Among individual cities, San Francisco home prices were up 23.9% Y/Y. Nothing to see here, move along.
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