US home prices rise in March as spring buying season begins
WASHINGTON (AP) — U.S. home prices kept climbing in March as the spring home buying season began, but so far the higher costs haven't thwarted sales.
Solid job growth, modest increases in wages and salaries, and low mortgage rates are fueling Americans' willingness to buy homes.
Sales of new homes jumped to their highest level in eight years in April, and home construction has also increased.
Mortgage rates remain at historical lows: A 30-year fixed rate mortgage averaged just 3.64 percent last week.