US home prices surge 18.4% in October

Mgn 1280x720 10525c00 XsjwzWASHINGTON (AP) — U.S. home prices surged again in October as the housing market continues to boom in the wake of last year’s coronavirus recession.

The S&P CoreLogic Case-Shiller 20-city home price index, out Tuesday, climbed 18.4% in October from a year earlier.

The gain marked a slight deceleration from a 19.1% year-over-year increase in September but was about in line with what economists had been expecting.

All 20 cities posted double-digit annual gains.

The hottest markets were Phoenix (up 32.3%), Tampa (28.1%) and Miami (25.7%). Minneapolis and Chicago posted the smallest increases, 11.5% each.

Categories: National News