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Home Prices Surge in U.S. as Low Mortgage Rates Attract Buyers

February 12, 2020 / BloombergQuint

Buyers are rushing into the U.S. housing market to take advantage of falling borrowing costs. Now, they’re facing rising prices. The median price of an existing single-family home gained 6.6% in the fourth quarter, hitting $274,900, according to the National Association of Realtors. That was the biggest year-over-year gain in nearly three years. By comparison, the annual gain in the third quarter was 5.1%.