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Home Prices in 20 U.S. Metro Areas Rise Most in Two Years

  • Phoenix, Seattle and San Diego lead annual gains for August
  • Buyers are competing for increasingly tight supply of listings
San Francisco Apartment Rents Crater Up To 31%, Most In U.S.
Photographer: David Paul Morris/Bloomberg
Updated on

U.S. home prices rose the most in two years in August as low mortgage rates spurred competition for an increasingly scarce supply of listings.

The S&P CoreLogic Case-Shiller index of values in 20 of the largest metropolitan areas climbed 5.2% from a year earlier, beating every estimate in a Bloomberg survey of economists. It was the biggest annual gain since August 2018.