Economic news

House prices in 20 largest U.S. cities accelerate to 6.4% in October

The index of housing prices in the 20 largest cities in the U.S. S&P CoreLogic Case-Shiller 20-City in October 2017 climbed by 6.4% compared to the same month last year after an increase of 6.2% in September.

The growth rate of the index became the highest since July 2014 and exceeded the consensus forecast of experts at the level of 6.25%.

Prices for housing in the United States rose due to the lack of houses for sale, with the increase in demand amid improvement of the the U.S. labor market, as well as low interest rates on loans. The rise in the cost of housing in the U.S. may be interrupted if the Fed raise interest rates next year.

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