Home prices rise 0.8% in December, more than economists had expected

Expectations were for prices to rise 0.5% in December after rising 0.8% the prior month. 

In the fourth quarter of 2014, home prices rose 1.4%. 

In a statement, FHFA economist Andrew Leventis said, "Contrary to prior indications of a possible slowdown, home price appreciation in the fourth quarter was relatively strong. The key drivers of appreciation over the last few years—low inventories of homes available for sa?le and improvement in labor markets—likely played a role in driving up prices during the quarter."

More to come ...

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