Home prices rose in nearly all major U.S. cities in April, further evidence of a housing market that is slowly improving even as the job market slumps.
The Standard & Poor’s/Case-Shiller home price index showed increases in 19 of the 20 cities tracked. It’s the second straight month that prices have risen in a majority of U.S. cities.
Home prices in the Denver area have risen 2.8 percent in the past year and improved 1.7 percent from March to April, according to the report.
And a measure of national prices rose 1.3 percent in April from March, the first increase in seven months.
San Francisco, Washington and Phoenix posted the biggest increases in April. Prices fell 3.6 percent in Detroit, the only city to drop.
The month-to-month prices aren’t adjusted for seasonal factors.
A separate report issued Tuesday painted a less optimistic picture for Denver’s housing market.
That report, from housing data provider CoreLogic, said the share of metro Denver mortgages delinquent by 90 days or more increased slightly in April from March, ending a 14-month streak of declines.
The rate of seriously delinquent mortgage borrowers in metro Denver ticked up to 4.05 percent in April from 3.91 percent in March. The Associated Press
