Home Prices in 20 U.S. Cities Accelerate for a Fifth Month

Home prices in 20 U.S. cities accelerated in the year through February for a fifth month, while nationwide property values also picked up, according to S&P CoreLogic Case-Shiller data reported Tuesday.

While mortgage rates have eased in recent weeks after a post-election surge, housing affordability is being crimped by lingering inventory shortages and wage growth that’s been slower to pick up than property values. At the same time, steady labor-market progress and healthier household balance sheets help explain why Americans are still propelling demand for the industry even as home prices are on a tear.