Home-Price Growth in Key US Cities Accelerates as Buyers Hit

Home-price growth in 20 major US cities picked up pace in March, pressuring buyers as the key selling season kicks into gear.

Prices in a measure of 20 cities increased 7.4% from a year earlier, larger than the 7.3% annual gain in February, an S&P CoreLogic Case-Shiller index shows.

Homebuyers are facing a severe affordability crisis made worse by mortgage rates hovering around 7% and price growth that’s only accelerating. At the heart of the problem is the lack of previously owned homes for sale: Few owners are willing to move if it means letting go of a loan locked in when rates were cheap. While listings have increased in recent months, inventory still remains historically tight.

Prashant Gopal | Yahoo Finance

Related News

Browse By Category


Send Us A Message