US home prices reached a record high in March, reflecting the persistent affordability crisis in the housing market. The S&P CoreLogic Case-Shiller US National Home Price Index rose 6.5% in March compared to a year ago, reaching a new record high for the sixth time in the past year. Urban areas like San Diego, New York, Cleveland, and Los Angeles witnessed strong housing demand. The 20-city index showed a slightly faster pace of growth in March than in February. The housing market’s challenges include high home prices, a shortage of homes on the market, and elevated mortgage rates.
