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US Home Price Gains Accelerate As Pandemic Shakes Up Housing

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FILE - This April 16, 2020 file photo shows a real estate company sign that marks a home for sale in Harmony, Pa. U.S. average rates on long-term mortgages rose this week but remained at historically low levels. Mortgage buyer Freddie Mac reports, Thursday, Aug. 13, that the average rate on the 30-year home loan increased to 2.96% from 2.88% last week. (AP Photo/Keith Srakocic, File)

(AP) — U.S. home prices jumped in September as strong demand, low interest rates and the smallest number of available homes on record combined to push up housing costs. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, showed that home prices rose 6.6% in September from a year earlier, much higher than its 5.3% increase in August. That is the biggest increase since April 2018.

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