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Tags: Home Prices | case shiller | housing | economy

Home Prices Jump in September by Most in More Than a Year

Home Prices Jump in September by Most in More Than a Year
(Getty Images)

Tuesday, 24 November 2015 09:13 AM EST

U.S. home prices rose in September from a year earlier at the fastest pace in 13 months as a lack of houses for sale has forced buyers to bid up available properties.

The Standard & Poor's/Case-Shiller 20-city home price index increased 5.5 percent in September compared with a year ago, the largest annual gain since August 2014.

Steady job gains and low mortgage rates have propelled a solid rebound in home sales, which are on track to reach the highest level since 2007. The unemployment rate fell to 5 percent in October as employers added the most jobs since December. Borrowing costs have ticked up but remain below 4 percent, a low level historically.

San Francisco reported the largest annual gain, at 11.2 percent, followed by Denver at 10.9 percent.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
U.S. home prices rose in September from a year earlier at the fastest pace in 13 months as a lack of houses for sale has forced buyers to bid up available properties.
Home Prices, case shiller, housing, economy
130
2015-13-24
Tuesday, 24 November 2015 09:13 AM
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