The US housing market continues to rise. In March the Case Shiller index it grew by 1,4% compared to February and by 10,9% compared to the same period last year. The increase on a monthly basis is the largest since July, while on an annual basis even since April 2006. Despite this, the market is still 28 percentage points away from the peaks recorded seven years ago.
The broad index measures the development of house prices in the 20 major metropolitan areas of the United States. Restricting instead the gaze to the 10 largest metropolitan areas, the figure grew by 1,4% on a quarterly basis and by 10,3% compared to March 2012.
The good performance recorded in some areas of the United States was the driving force: in the Phoenix area, Arizona, prices jumped by 22,5% on an annual basis, in Las Vegas by 20,6% and in San Francisco by 22,2%. The recovery in the New York area was much slower, with an annual increase of 2,6%.
