Home prices rise more than expected (XHB)

Home prices rise 0.8% in December, more than economists had expected

Expectations were for prices to rise 0.5% in December after rising 0.8% the prior month. 

In the fourth quarter of 2014, home prices rose 1.4%. 

In a statement, FHFA economist Andrew Leventis said, "Contrary to prior indications of a possible slowdown, home price appreciation in the fourth quarter was relatively strong. The key drivers of appreciation over the last few years—low inventories of homes available for sa​le and improvement in labor markets—likely played a role in driving up prices during the quarter."

More to come ...

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