U.S. Home Prices Rise For 9th Straight Month

Though price pressures may ease a bit in the coming months, that's little solace to Americans buying homes now.

Home prices in the US rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings.

Home prices in the US rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings. A national gauge of prices rose 0.6% in October from September, Bloomberg News reported.

Buyers piled into the US Treasury's auctions Tuesday, seeking to lock in higher yields as the market prices in an aggressive path of Federal Reserve interest-rate cuts in 2024.

Indirect bidders, a group that includes foreign central banks, grabbed a record 77.6% of the Treasury's 52-week bill auction, while the same category took 71.6% of the department's six-month offering, the third-largest share ever.

Wall Street began the final week of 2023 by extending a rally that put the market on the brink of a record.

The S&P 500 on Tuesday traded less than 0.5% away from its all-time high. Despite warnings about overbought levels, equities continued to power ahead on speculation the Fed will cut rates as early as March.

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