U.S. home prices increase by the most in more than six years

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WASHINGTON (AP) — U.S. home prices jumped in October by the most in more than six years as a pandemic-fueled buying rush drives the number of available properties for sale to record lows.

That combination of strong demand and limited supply pushed home prices up 7.9% in October compared with 12 months ago, according to Tuesday’s S&P CoreLogic Case-Shiller 20-city home price index. That’s the largest annual increase since June 2014.

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