"Record-Breaking Home Prices Surge, Impacting Buyers and Sellers Alike"

US home prices hit a new record high in January, with the S&P CoreLogic Case-Shiller US National Home Price index rising 6% from the previous year, the fastest increase since late 2022. All cities reported annual price increases, with San Diego surging 11.2%. However, high mortgage rates and borrowing costs limited price growth, especially in the largest metro areas. On a month-over-month basis, prices rose 0.4% on a seasonally adjusted basis, but 17 of the 20 metro areas recorded price declines from December to January.