US home prices jump at fastest pace in more than 15 years

Mgn 1280x720 10525c00 XsjwzWASHINGTON (AP) — U.S. home prices soared in April at the fastest pace since 2005 as Americans bid up prices on a limited supply of available properties.

The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, jumped nearly 15% in April from the previous year.

That is up from a 13.4% annual gain in March.

The price gains have been so dramatic that home sales have started to slow as more would-be buyers are priced out of the market.

Categories: National News