Business
Home prices climb by fastest pace in 7 years – Fox Business
Home prices rose 10.4% year over year in December, according to the national Case-Shiller index, the fastest since January 2014.
U.S. home prices rose in December at their fastest pace in nearly seven years, boosted by record-low mortgage rates and an undersupply of housing as city dwellers continued to flee to the socially distant suburbs amid the COVID-19 pandemic.
Home prices rose 10.4% year over year in December, according to the national Case-Shiller index, the fastest since January 2014. Prices rose 0.85% month over month, making for the strongest November to December increase since recordkeeping began 25 years ago.
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