x

Economy

US Home Prices Soared in January by Most in 7 Years

WASHINGTON — U.S. home prices increased at the fastest pace in seven years in January as the pandemic has fueled demand for single-family houses even as the supply for such homes shrinks. 

The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 11.1% in January from a year earlier. That's the biggest gain since March 2014. Prices rose in all 20 cities, and the 12-month increase was larger for all cities in January than in the previous month. 

"January's data remain consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes," said Craig Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI. It's not yet clear whether that trend will fade as the pandemic is brought under control, Lazzara said, or if there will be a permanent shift higher in demand. 

The biggest price gain was in Phoenix, where home prices jumped 15.8%, followed by Seattle, with a 14.3% gain, and San Diego, at 14.2%. 

RELATED

MIAMI (AP) — Having fled economic and political chaos in Venezuela, Luisana Silva now loads carpets for a South Carolina rug company.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Evzones March in the Rain to Greek Flag Raising at Bowling Green in NYC (VIDEO)

NEW YORK – The heavy rain did not deter the Hellenic Presidential Guard, the Evzones, and the participants in the march from St.

JERUSALEM  — An incoming attack by Iranian drones and ballistic missiles poses the latest challenge to Israel’s air defense system, which already has been working overtime to cope with incoming rocket, drone and missile attacks throughout the six-month war against Hamas.

JERUSALEM  — Booms and air raid sirens sounded in Jerusalem early Sunday after Iran launched dozens of drones and ballistic missiles toward Israel in an unprecedented revenge mission that pushed the Middle East ever closer to a regionwide war.

SAN FRANCISCO (AP) — Stephen Curry and the Golden State Warriors realize they will have a hard road to reach the playoffs.

The Ford Bronco initially was conceived and designed for rugged outdoorsy types, a two-door means of escape to nature from the bustling cities of mid-century America.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.