4.1 C
New York
Wednesday, February 8, 2023

US home prices rose at 3.1% annually in January

National Housing Conference CEO David Dworkin discusses falling U.S. mortgage rates as and how much money Americans may be able to save as well as home purchasing trends. Video

BALTIMORE — U.S. home price growth was showing signs of acceleration in January, a sign of the solid demand that existed before the coronavirus outbreak caused millions of job losses and tossed the U.S. economy into a likely recession.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The S&P CoreLogic Case-Shiller 20-city home price index rose 3.1% in January from a year ago, up from a 2.8% annual gain in December, according to a Tuesday report. Lower mortgage rates and solid job gains had been fueling interest from would-be homebuyers, but the housing market is now in a moment of tumult as the virus-induced downturn has led to fears of missed mortgage payments.

Phoenix posted the strongest annual price growth at 6.9%, followed by Seattle and Tampa at 5.1%.

CLICK HERE TO READ MORE ON FOX BUSINESS

Related Articles

Latest Articles