Lean Inventory Drives U.S. Home Prices

Gauges of property values showed the biggest gains in four years in March

Still-healthy demand and a lean number of available properties continued to drive home prices higher in March. A gauge of property values in 20 U.S. cities advanced a greater-than-forecast 6.8 percent from a year earlier, while a measure of housing prices across the nation climbed 6.5 percent -- both the biggest gains in four years. Annual home-price appreciation in March was biggest in Seattle, Las Vegas and San Francisco, according to S&P CoreLogic Case-Shiller data released on Tuesday.

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