Home prices surged to a new record in March as strong home-buying demand outweighed the limited supply of homes for sale.
The S&P Corelogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the country, rose 20.6% for the year ending March, up from a 20% annualized rate the previous month. . March marked the highest annual rate of price increase since the index was introduced in 1987.