Home prices had a 4.8% annual change in October, following a 4% year-over-year change in September, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
The 10-City Composite rose 5.7% (up from 4.8%) and the 20-City Composite increased 4.9% (up from 3.9%).
U.S. home prices accelerated at their fastest annual rate of 2023 in October, according to S&P spokesperson Brian Luke. “Our National Composite rose by 0.2% in October, marking nine consecutive monthly gains and the strongest national growth rate since 2022,” Luke stated.
Among the 20 cities, Detroit recorded the highest year-over-year home price gains at 8.1%, followed by San Diego with 7.2%. Portland was the only city with lower home prices compared with October 2022.
