US home prices rose by less than expected in January, S&P Case Shiller says
By Alexander Bueso
Date: Tuesday 31 Mar 2020
(Sharecast News) - House price inflation in the US picked up by less than expected at the start of 2020, the results of a closely watched set of surveys revealed.
The year-on-year rate of increase in Standard&Poor's CoreLogic Case-Shiller home price index accelerated from a 3.7% clip in December to 3.9% for January.
Nevertheless, a separate gauge tied to home prices in the country's 20 largest metropolitan areas rose by 3.1%, which was up from 2.8% in the month before but well below the 3.4% increase that economists had penciled-in.
The capital of Arizona, Phoenix saw the quickest price gains, with a rise of 6.9% versus a year ago, followed by Seattle and Tampa, where prices jumped by 5.1%.
Fourteen out of the 20 cities surveyed reported a faster pace of price increases versus a year ago than in December.
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