US home prices rise in December
Posted February 23, 2016 6:00 am
WASHINGTON (AP) - U.S. home prices increased at a steady clip in December, helped by a healthy job market and low mortgage rates.
The Standard & Poor's/Case-Shiller 20-city home price index rose 5.7 percent from a year earlier, same as the annual increase in November.
Portland, San Francisco and Denver all registered double-digit annual price increases.
The index is still more than 11 percent below its mid-2006 peak.
Mortgage rates remain near historic lows more than two months after the Federal Reserve raised short-term interest rates for the first time since 2006. Unemployment has fallen to 4.9 percent, lowest in nearly eight years.
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