American home prices continued to skyrocket in March as buyers scrambled to lock down mortgages ahead of rising interest rates, leading industry experts said Tuesday.But with slowdown concerns escalating, some say the latest increase could mark the crescendo of a sector that’s risen by 37% overall since the start of the COVID-19 pandemic.“Homebuyer frenzy reached another new high, as eager buyers tried last-ditch efforts to secure a home before mortgage rates surged,” the report by the CoreLogic Case-Shiller Home Price Index said.
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