US home prices rise modestly, weigh on affordability

March 31, 2015 2:39 PM

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US home prices rise modestly, weigh on affordability

U.S. home prices rose at a steady pace in January, pushing prices up at a faster pace than wages and putting more homes financially out of reach for would-be buyers.

The Standard & Poor's/Case-Shiller 20-city home price index rose 4.6 percent in January compared with 12 months earlier, S&P said Tuesday. That is up from growth of 4.4 percent in December.

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