CNN —US home prices rose at the fastest clip in months to a fresh record high in January, according to data released Tuesday, highlighting how a housing shortage combined with high mortgage rates continues to limit affordability.
The S&P CoreLogic Case-Shiller US National Home Price index rose 6% in January from a year before, accelerating from a 5.6% annual increase in December.
“On a seasonal adjusted basis, home prices have continued to break through previous all-time highs set last year,” he noted.
On a month-over-month basis, prices rose 0.4% on a seasonally adjusted basis.
Minneapolis home prices have declined 2.4% during the three months ended in January, according to the report.
Persons:
”, Brian Luke, Dow, Freddie Mac
Organizations:
CNN, “, San Diego, Dow Jones, Minneapolis
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San Diego , Los Angeles, Washington