U.S. home prices rise 10.1% in December, fastest since 2014

WASHINGTON (AP) — U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving from urban apartments to houses in the suburbs. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, climbed 10.1% in December from a year earlier. The year-end jump was the biggest since April 2014 and follows a strong 9.2% year-over-year gain in November. Home prices climbed 14.4% in Phoenix, 13.6% in Seattle and 13% in Seattle. But prices were rising all over. Chicago, which recorded the slowest price gain, saw a 7.7% uptick. Detroit was not included in the annual figures because of record-keeping delays caused by the coronavirus pandemic.