US home prices surged 6.2 percent from a year ago

U.S. home prices climbed a robust 6.2 percent from a year ago, amid strong demand from would-be buyers and a shrinking supply of properties for sale.

Posted: Dec. 26, 2017 10:05 AM

WASHINGTON (AP) - U.S. home prices climbed a robust 6.2 percent from a year ago, amid strong demand from would-be buyers and a shrinking supply of properties for sale.

Scroll for more content...


Standard & Poor's is reporting that its SP CoreLogic Case-Shiller national home price index stood a solid 6 percent in October above its previous 2006 peak. Prices are climbing at more than double the pace of wage growth, creating some affordability pressures that have been offset by relatively low mortgage rates.

The strongest annual gains occurred in Seattle, where prices have shot up 12.7 percent since October 2015. Las Vegas has seen prices increase 10.2 percent, while San Diego notched growth of 8.1 percent. Of the 20 metro areas tracked by the index, Washington, DC reported the smallest price gain with 3.1 percent.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Related Content

Article Comments

Boilermaker Results
Enchanted Forest Water Safari Phrase to Play
Utica
Clear
74° wxIcon
Hi: 77° Lo: 50°
Feels Like: 74°
Oneonta
Broken Clouds
71° wxIcon
Hi: 75° Lo: 45°
Feels Like: 71°
Herkimer
Clear
74° wxIcon
Hi: 76° Lo: 50°
Feels Like: 74°
Thendara
Clear
74° wxIcon
Hi: 69° Lo: 46°
Feels Like: 74°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
New Reduced Price for WKTV Staycation Card
Click Here for A Healthier Mohawk Valley