Dive Brief:

• The S&P/Case-Shiller Home Price Index grew 4.1% from March 2014 to March of this year.
• The bump has prompted economists to wonder if home prices are becoming out of step with wages.
• San Francisco and Denver saw price increases of 10.3% and 10.0%, respectively, and recorded the highest year-over-year gains. Cleveland, down 1.2%, led 10 cities that saw prices decrease in the 12 months since last March.

Dive Insight:

David Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices, said that although home prices have typically increased about 1% per year, and this year's rate was four times that, the annual rate was cut in half during the past year — which could indicate a slowdown in growth. “I would describe this as a rebound in home prices, not bubble and not a reason to be fearful,” Blitzer told The Wall Street Journal.

Still, a Census Bureau report Tuesday found the median sales price of new homes in April reached $297,300, an 8.3% jump from April 2014.

And the National Association of Realtors' report Thursday that sales of previously owned homes unexpectedly dropped 3.3% in April from the previous month has been another cause for concern among industry experts.