US Home Prices Posted Largest Increase Of 2023 Before Rates Plunged

US home prices rose nearly 5% in October from the same month a year ago, data out Tuesday showed. The 4.9% YoY increase on the Case-Shiller 20-City Index matched expectations and underscored the extent to which supply and demand remained out of balance as the highest mortgage rates in decades kept badly-needed inventory off the market. The national gauge rose 4.77% in October, much quicker than the prior month. That index, you're reminded, began making new highs months ago, a testament to t