June’s Case-Shiller data revealed that seasonally adjusted home prices were up 4.3 percent year-over-year in the 10-city index, and 5.1 percent year-over-year in the 20-city index.
Zillow says that the steady annual pace is keeping up with prior months and matching expectations.
The monthly composite indices fell just 0.1 percent in June from May.
“The data from the first half of 2016 is in, and thus far, the relentless sellers’ market we’re in the midst of shows few signs of reversing,” Zillow chief economist Svenja Gudell writes. “The overall inventory of homes for sale is way down, national home values continue to rise and those homes that are available to buy are selling seemingly as soon as they hit the market.”
