WASHINGTON (AP) — U.S. home prices soared in April at the fastest pace since 2005 as Americans bid up prices on a limited supply of available properties.
The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, jumped nearly 15% in April from the previous year.
That is up from a 13.4% annual gain in March.
The price gains have been so dramatic that home sales have started to slow as more would-be buyers are priced out of the market.
