Home prices increased 8.4% year-over-year in October, up from a 7.0% gain in September, according to the latest S&P CoreLogic Case-Shiller Indices. The last time the index showed an 8.4% growth rate was March 2014.
Home prices increased 8.4% year-over-year in October, up from a 7.0% gain in September, according to the latest S&P CoreLogic Case-Shiller Indices. The last time the index showed an 8.4% growth rate was March 2014.
The 10-City Composite annual increase was 7.5% (up from September’s 6.2% jump), and the 20-City Composite grew 7.9% year-over-year (up from September’s 6.6%).
Phoenix, Seattle and San Diego reported the highest annual home price gains among the 19 cities in October, increasing 12.7%, 11.7% and 11.6%, respectively.
“The surprising strength we noted in last month’s report continued into October’s home price data,” S&P Dow Jones Indices spokesperson Craig Lazzara stated.
The trend for accelerating increases in the index began in August 2019 but was interrupted in May and June following the outbreak of the coronavirus.
“Since June, our monthly readings have shown accelerating growth in home prices, and October’s results emphatically emphasize that trend,” Lazzara added.
The full October home prices report can be found here.