From Yahoo Finance: 2024-04-30 10:01:32

Home prices surged in February, rising 6.4% year-over-year, marking the fastest growth since November 2022. The S&P CoreLogic Case-Shiller Home Price Index revealed the increase, with prices in the 20 largest cities jumping 7.3%. Analysts had anticipated a 6.7% rise. Nationally, prices rose 0.6% from the previous month.

Seattle, San Diego, and San Francisco led the monthly price increases, while San Diego, Detroit, and Chicago saw the highest year-over-year gains. According to Thomas Ryan, property economist at Capital Economics, the shortage of existing homes for sale is fueling the price surge, with expectations for 5% year-over-year growth by the end of 2024.



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