The pace of home-price appreciation again ramped up in March, even as the coronavirus pandemic hit the U.S., according to a major price barometer.
The S&P CoreLogic Case-Shiller 20-city price index posted a 3.9 percent year-over-year gain in March, up from 3.5 percent the previous month. On a monthly basis, the index increased 0.5 percent between February and March.
Because of the two-month lag in the data included in the price index, the effects of the coronavirus pandemic on the housing market were not yet fully reflected in the data.
Click here to read the entire report from Jacob Passey on MarketWatch.com.
Is this good news? As for where home prices will go because of the coronavirus pandemic, the jury is out. A report from Zillow ZG percent indicated that home prices could fall as much as 4 percent in a worst-case scenario because of the outbreak, while Fannie Mae has forecast home prices to continue rising in spite of the pandemic.
