April Case-Shiller Forecast: Slower National Growth, Faster Growth in 10 & 20-City Indices
Growth in the smaller, more coastal 10- and 20-city S&P/Case-Shiller Home Price Indices in March was slightly stronger than expected, while growth in the larger U.S. national index came in slightly below expectations. Looking ahead, Zillow’s April Case-Shiller forecast calls for another somewhat mixed bag, with annual growth in the 10- and 20-city indices picking up while national growth slows a bit.
The April Case-Shiller National Index is expected to grow 5.1 percent year-over-year in April, down from 5.2 percent annual growth in March. We expect the 10-City Index to grow 5.2 percent year-over-year in April, and the 20-City Index to grow 5.8 percent over the same period, up from annual growth of 4.7 percent and 5.4 percent in February, respectively.
Zillow’s April Case-Shiller forecast is shown in the table below. These forecasts are based on today’s March Case-Shiller data release and the April 2016 Zillow Home Value Index (ZHVI). The April Case-Shiller Composite Home Price Indices will not be officially released until Tuesday, June 28.
