Home-price growth in the US accelerated at the fastest rate since 2022, increasing pressure on buyers after the worst year for property sales in nearly three decades.
Prices nationally climbed 6% in January from a year earlier, according to data from S&P CoreLogic Case-Shiller. That’s bigger than the 5.6% annual gain in December.
The housing market has been tough to navigate since borrowing costs started soaring in 2022, squeezing the purchasing power of many shoppers. While inventory has started to rise recently, homes listed for sale remain low by historical standards and the tight supply has helped keep prices high.
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