Home prices rise at fastest pace in 31 months

Job growth, demographics and limited supply drove 5.9% increase in 12 months ended in January, Case-Shiller says

By Laura Kusisto | The Wall Street Journal

U.S. home prices rose in January at their fastest rate since mid-2014, a trend that bodes well for sellers but could start to eat into demand as buyers get priced out of the market.

The S&P CoreLogic Case-Shiller Indices, which cover the entire nation, rose 5.9% in the 12 months ended in January, the strongest increase in 31 months, up from a 5.7% year-over-year increase in December.

The 10-city index gained 5.1% over the year, up from 4.8% the prior month, and the 20-city index gained 5.7%, up from a 5.5% increase.

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