"December Sees Record-Breaking Home Prices Despite Rising Mortgage Rates"

Home prices in the 20 largest U.S. metros reached a new all-time high in December, with the S&P CoreLogic Case-Shiller 20-city price index rising 0.2% from the previous month and 6.1% over the past year. San Diego saw the largest year-over-year gains at 8.8%, while Portland had the slowest growth at 0.3%. Despite a rise in mortgage rates, home prices remained resilient, and some markets even experienced declines. Analysts expect robust price growth to continue in 2024 as demand recovers and mortgage rates potentially fall.