That combination of strong demand and limited supply pushed home prices up 7.9% in October compared with 12 months ago, according to Tuesday's S&P CoreLogic Case-Shiller 20-city home price index. That's leading more people to seek out homes with more room for a home office, a bigger kitchen, or space to work out. The biggest price gain was in Phoenix for the 17th straight month, where home prices rose 12.7% from a year ago. Home sales slipped in November, according to the National Association of Realtors, after rising steadily for the previous five months. The number of homes for sale fell to 1.28 million in November, the Realtors said, enough to last just 2.3 months at the current pace of sales.

Source: Mint December 29, 2020 14:15 UTC