Home prices rose 4.5% year-over-year, as of December, according to the S&P/Case-Shiller Home Price Index, compared to a 4.3% rise in November. Home prices gains have softened over the past year, though prices jumped at twice the rate of inflation throughout 2014. With investors expecting a policy shift from the Federal Reserve in 2015, where are home prices headed for the rest of the year? TheStreet’s Scott Gamm speaks with David Blitzer, chairman of the index committee at S&P Dow Jones Indices, to discuss the highlights of Tuesday morning’s report, along with how a Fed rate hike might affect prices.
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