U.S. home prices jumped in November at the fastest pace in more than six years, fueled by demand for more living space as Americans stick closer to home during the pandemic. Home prices soared 9.1% in November compared with 12 months ago, according to Tuesday’s report on the S&P CoreLogic Case-Shiller 20-city home price index. That is the largest increase since May 2014. Low borrowing costs are also contributing to rising home sales, which have sharply reduced the number of dwellings available. The limited inventory of homes is pushing up home prices. Sales of existing homes rose in December and home sales for all of 2020 rose to the highest level in 14 years. For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact: James M. Hanson Associates, Inc. Phone: (609) 884-9185 Email: jimhanson1@comcast.net Community Resource Links Cape May Chamber of Commerce Cape May County Chamber of Commerce Avalon Chamber of Commerce Atlantic City Chamber of Commerce