US Home Prices Extend Records, Rising for a Ninth Straight Month
- Values climbed annually in 19 of 20 major cities in October
- Severe inventory shortage spurs competition among homebuyers
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Home prices in the US rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings.
A national gauge of prices rose 0.6% in October from September, according to seasonally adjusted data from S&P CoreLogic Case-Shiller. A seasonally adjusted measure of prices in 20 of the largest cities also rose 0.6%.