The Associated Press
The February &P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 11.9% from a year earlier, the biggest gain since March 2014. The index had also surged — 11.1% — in January. The February gain was about what economists had expected. Demand for housing has surged during the pandemic. Americans fortunate enough to work from home, seeking more space or a different location. Low mortgage rates are also encouraging buyers: The average 30-year fixed, home loan rate fell last week below 3% for the first time in two months.
Same in Australia short supply and high demands
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