US home prices rose at 3.1% annually in January
U.S. home price growth was showing signs of acceleration in January, a sign of the solid demand that existed before the coronavirus outbreak.
BALTIMORE (AP) — US 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 US economy into a likely recession.
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 report released Tuesday. Lower mortgage rates and solid job gains had been fueling interest from would-be home buyers, but the housing market is now in a moment of tumult as the virus-induced downturn has led to fears of missed mortgage payments.
Advertisement:
Phoenix posted the strongest annual price growth at 6.9%, followed by Seattle and Tampa at 5.1%.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com