Home Prices in 20 U.S. Cities Increase by Most Since 2014
Photographer: Mike Kane/Bloomberg
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Housing prices in 20 U.S. cities accelerated more than forecast in October, rising by the most since mid-2014 as lean inventories continued to prop up values amid steady demand, S&P CoreLogic Case-Shiller data showed on Tuesday.
A lingering shortage of previously owned homes is keeping housing prices elevated. That’s allowed homeowners to recover the equity lost during the housing collapse and recession a decade ago. Sales, meanwhile, are strengthening as the labor market remains robust and borrowing costs stay close to historically low levels.