Washington – U. S. home prices rose at their slowest pace in more than six years in January, as higher mortgage rates last year weighed…
Washington – U. S. home prices rose at their slowest pace in more than six years in January, as higher mortgage rates last year weighed on sales.
The S&P CoreLogic Case-Shiller 20-city home price index increased 3.6 percent in January from a year earlier. That’s down from a 4.1 percent pace the previous month.
The slowdown in price appreciation has helped make homes more affordable. Mortgage rates have also fallen since January. Cheaper homes and lower rates appear to be reversing last year’s sales slump. Sales of existing homes soared in February, though they remain slightly below where they were a year ago.
