Economics
US Home-Price Appreciation Accelerates for Fourth Month
- Pace of gains is set to slow, but timing is uncertain
- Rising prices, higher mortgage rates are cooling demand
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Home-price growth in 20 US cities picked up for the fourth straight month with Tampa, Florida, showing the biggest gains.
A measure of prices in those 20 cities climbed 21.2% through March following a 20.3% gain in February, the S&P CoreLogic Case-Shiller index showed Tuesday. All 20 cities reported double-digit price increases for the year ended March and prices in Tampa jumped 34.8%, according to a statement.