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Home Prices Rose Less than Expected in April, Survey Says

Single-family home prices rose less than expected in April, a closely watched survey said on Tuesday. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.2 percent in April on a seasonally adjusted basis. A Reuters poll of economists had forecast a gain of 0.8 percent following gains of 1.2 percent in March. Non-seasonally adjusted prices rose 1.1 percent in the 20 cities, compared to an expectation of a 0.8 percent rise. Prices in the 20 cities rose 10.8 percent year-over-year, shy of expectations for 11.6 percent, the survey said.

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Home sales spring higher in May 1:20

IN DEPTH

- Reuters