Home Prices Grew Pushing Sales to 14-Year High

Home prices across major U.S. cities jumped 8.4% in October from the previous year, according to the S&P CoreLogic Case-Shiller National Home Price Index, with home sales hitting their highest level in 14 years. October's price growth was even stronger than September’s 7% annual gain, and it marks the fastest growth rate in almost seven years. Of the largest 20 cities, Phoenix was the leader for the 17th straight month, with a 12.7% price increase from last year.