WASHINGTON — Steady job growth, low mortgage rates and tight inventories helped fuel rising U.S. home prices in October.
The Standard & Poor’s/Case-Shiller 20-City Home Price Index rose 5.5% in the 12 months ending in October, up from a 5.4% pace in September.
Home values have climbed at a roughly 5% pace during much of 2015.
Strong hiring has bolstered a real estate market still recovering from a housing bust that began about eight years ago.
Home sales have increased this year as the 5% unemployment rate has strengthened confidence in the economy.
But the gains have been uneven.
San Francisco, Denver and Portland, Oregon reported increases of 10.9% over the past year.
Prices in Chicago and the District of Columbia rose less than 2%.
According to their website, the Index looks at residential real estate in 20 major cities across the United States including Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington, D.C.
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