WASHINGTON—U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving to houses in the suburbs from crowded urban areas.
The S&P CoreLogic Case-Shiller 20-city home price index, released on Feb. 23, climbed 10.1 percent in December from a year earlier. The year-end jump was the biggest since April 2014 and follows a strong 9.2 percent year-over-year gain in November.
