U.S. Home Prices Rose in March Despite Onset of COVID-19 Crisis, Radian Home Price Index Reveals
Radian Group Inc. (RDN)
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Source: Business Wire
PHILADELPHIA--(BUSINESS WIRE)--Home prices across the United States rose at an annualized rate of 5.8 percent in March 2020 from February 2020, according to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC (“Red Bell”), a subsidiary of Radian Group Inc. (NYSE: RDN). The Radian HPI is the most comprehensive and timely measure of U.S. housing market prices and conditions.The Radian HPI also rose 7.7 percent year-over-year (April 2019 to March 2020), which was slightly higher than the year-over-year increase of 7.4 percent recorded last month. While real estate markets came under significant pressure in the second half of March, as of the end of the month the impact of the COVID-19 crisis had yet to materially translate into any impact on home prices.The Radian HPI is calculated based on the values of more than 70 million unique addresses each month, covering all single-family property types and geographies.“U.S. housing values remained well supported in
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