Yesterday, the S&P CoreLogic Case-Shiller index revealed that U.S. home prices climbed to another record high in April.
Many cities across the country continued to see prices soar at a quickened pace, along the same lines as red-hot inflation. The cost of homes is up 20.4% year over year.
Cities that saw the biggest price accelerations were Tampa, Miami and Phoenix, with year-over-year home prices gains of 35.8%, 33.3% and 31.3%, respectively.
Moreover, the 10-city composite registered an annual increase of 19.7%, climbing from 19.5% in March. The 20-city composite saw an annual gain of 21.2% compared to 21.1% during the prior month.
Related: How Mortgage Rates Are Determined
Get instructions on how to enable our Flash News Briefing skill to your Amazon devices: