20 U.S. Cities are Seeing a Steady Rise in Home Prices
20 U.S. cities are seeing continuously rising home prices according to S&P CoreLogic Case-Shiller data. The number of U.S. cities with this much constant increase in home prices has reached the most it has ever been in three years.
"The 20-city property values index increased 6.4% year-over-year (the estimate was 6.3%), after climbing 6.3% year-over-year," according to National Mortgage News.
"The national home-price gauge rose 6.2% year-over-year and the seasonally adjusted 20-city index climbed 0.7% month-to-month (the estimate was 0.6%)."
Residential real estate has bounced back thanks to the growing economy, a hefty job market and an overall high demand with little supply available to fill it.
"Home prices continue to rise three times faster than the rate of inflation," David Blitzer, chairman of the S&P index committee, said in a statement, according to the report.
"Without more supply, home prices may continue to substantially outpace inflation."
To learn more about the home price increase in a record number of 20 U.S. cities, click on the image above.
