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US Home Prices Surge 3.9% Amid Bidding Wars

2/27/2025

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Summary

Story summary

In December, US home prices increased by 3.9% year-over-year, fueled by buyer demand and limited inventory.
Mortgage rates are above 6.5%, but bidding wars continue in coastal areas.
The Federal Housing Finance Agency noted a 0.4% rise in single-family home prices, totaling a 4.7% annual increase.
The housing market demonstrates resilience despite high borrowing costs, reflecting strong demand.

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Story summary

In December, US home prices increased by 3.9% year-over-year, fueled by buyer demand and limited inventory.
Mortgage rates are above 6.5%, but bidding wars continue in coastal areas.
The Federal Housing Finance Agency noted a 0.4% rise in single-family home prices, totaling a 4.7% annual increase.
The housing market demonstrates resilience despite high borrowing costs, reflecting strong demand.