From Dow Jones & Company:



Home prices in the 20 biggest U.S. metros rose for the ninth consecutive month and reached a record high, driven by a persistent lack of homes for sale. The S&P CoreLogic Case-Shiller 20-city house price index increased by 0.6% in October compared to the previous month, with home prices in the 20 major U.S. metro markets up by 4.9%.

The rise in home prices is attributed to the ongoing shortage of available homes for sale, leading to increased competition among buyers. This has resulted in a surge in demand for housing, driving prices to new heights. The trend of rising home prices has persisted for nine months, indicating a robust and resilient housing market in the U.S.

Despite the challenges in the real estate market, the demand for housing remains strong, as evidenced by the consecutive monthly increases in home prices. The lack of available homes for sale continues to drive up prices, creating a competitive market for buyers and sellers alike.



Read more: U.S. home prices hit an all-time high in October, Case-Shiller says