Job Market

U.S. home prices jump in September by most in more than a year

U.S. home prices rose in September from a year earlier at the fastest pace in 13 months as a lack of houses for sale has forced buyers to bid up available properties.

The Standard & Poor's/Case-Shiller 20-city home price index, released Tuesday, increased 5.5% in September compared with a year ago, the largest annual gain since August 2014. In Los Angeles and Orange counties, home prices rose 6.4% compared to a year earlier.

Steady job gains and low mortgage rates have propelled a solid rebound in home sales, which are on track to reach the highest level since 2007. The unemployment rate fell to 5% in October as employers added the most jobs since December. Borrowing costs...