A “sale pending” sign is posted in front of a home for sale on November 30, 2023 in San Anselmo, California. According to a report by the National Association of Realtors, pending home sales fell 1.5 percent in October to their lowest level in 20 years. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images News | Getty Images
Home prices rose 4.8% nationally in October compared with October 2022, according to the S&P CoreLogic Case-Shiller home price index. That’s a jump from the 4% annual increase in September and marks the strongest annual gain seen in 2023.
The 10-city composite rose 5.7%, up from a 4.8% increase in the previous month. The 20-city composite rose 4.9%, up from a 3.9% advance in September.
The strength in home prices came despite a sharp rise in mortgage interest rates in October. The average rate on the 30-year fixed loan crossed 8% on Oct. 19, according to Mortgage News Daily. That was the highest level in more than two decades. Rates, however,…
2023-12-26 09:39:22
Post from www.cnbc.com
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