Home Prices Increased in 86% of U.S. Metro Areas

Home-price growth accelerated in much of the U.S. in the fourth quarter as low mortgage rates and improving employment spurred demand.

The median price of an existing single-family home rose from a year earlier in 86 percent of the 175 metropolitan areas measured, the National Association of Realtors said in a report Wednesday. Twenty-four areas had price gains of 10 percent or more, up from 16 regions in the third quarter. Prices declined in 24 areas.