House prices rose in December accelerated as the number of homes on the market continued to decline.
The S & P Core Logic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the country, rose 10.4% annually from 9.5% in the year ended December. last month.. December recorded the highest annual price increase since January 2014.
Home purchase demand has skyrocketed in recent months, driven by record low interest rates.Sales of pre-owned homes, which dominate the housing market, will reach 2020 Highest annual level since 2006, According to the National Association of Real Estate Agents.
The supply of homes for sale is declining, and buyers are competing for homes, pushing up prices. According to NAR, the number of homes sold at the end of December was 1.07 million, down 23% from December 2019.
The Case-Shiller 10 Cities Index increased 9.8% over the year ended in December, compared to an increase of 8.9% in November. The 20-city index rose 10.1% after rising 9.2% annually in November.
U.S. home price growth accelerates in December
Source link U.S. home price growth accelerates in December