Home prices continued to surge in October, new data show.
Prices were up 8.4 percent year-over-year, according to the S&P CoreLogic Case-Shiller index tracking the housing market in major metropolitan areas. Their 12-month gain in September was 6.6 percent.
“The last time that the National Composite matched this month’s 8.4 percent growth rate was more than six and a half years ago, in March 2014,” Craig J. Lazzara, managing director and Global Head of Index Investment Strategy at S&P Dow Jones Indices, said in a press release.
He added, “Although the full history of the pandemic’s impact on housing prices is yet to be written, the data from the last several months are consistent with the view that Covid has encouraged potential buyers to move from urban apartments to suburban homes.”
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