Phoenix, Seattle see biggest pre-coronavirus annual home price gains

Treasury Secretary Steven Mnuchin argues June and July will see an economic pickup followed by a ‘big bounce back' in August and September. He also detailed new measures in the Payroll Protection Program that will ensure loans get into the right hands.

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Phoenix, Seattle, Tampa and Charlotte reported the highest annual home price gains according to the latest analysis from the S&P CoreLogic Case-Shiller index measuring 20 cities.

However, the data only runs through February, before the coronavirus pandemic created uncertainty in the real estate market.

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"As much of the U.S. economy was shuttered in March, next month’s data may begin to reflect the impact of these policies on the housing market," said Craig J. Lazzara, head of Index Investment Strategy at S&P Dow Jones Indices.

The 20-city composite saw a 3.5% year-over-year gain, an increase from 3.1% in the previous month.

This April 16, 2020 photo shows a real estate company sign that marks a home for sale in Harmony, Pa. (AP Photo/Keith Srakocic)

Phoenix's housing prices saw the biggest jump with a 7.5 percent year-over-year price increase. Seattle saw 6 percent, while Tampa and Charlotte followed with 5.2 percent. Only Chicago saw an increase of less than 1 percent.

Here's the complete list by city:

Phoenix - 7.5%
Seattle - 6.0%
Charlotte - 5.2%
Tampa - 5.2%
Minneapolis - 5.0%
Boston - 4.9%
Portland - 4.9%
Atlanta - 4.6%
San Diego - 4.6%
Cleveland - 4.3%
Detroit - 3.7%
Los Angeles - 3.7%
Washington - 3.7%
Las Vegas - 3.5%
Denver - 3.4%
San Francisco - 3.4%
Miami - 3.3%
Dallas - 2.5%
New York - 1.5%
Chicago - 0.7%

The index tracks the price path of typical single-family homes in given metropolitan areas.

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