Posted 12/26/2023, 10:19:00 PM
US Home Prices See Fastest Growth in 2 Years, Midwest and Northeast Lead Gains
- Home prices in the US grew at the fastest annual rate in October since 2022, up 4.8% year-over-year according to the Case-Shiller index
- The 10-city and 20-city composites saw even larger year-over-year price increases in October, of 5.7% and 4.9% respectively
- Detroit, San Diego, and New York led price growth, with Detroit seeing the fastest year-over-year home price appreciation at 8.1%
- 19 of the 20 cities tracked saw steady home price gains, with 8 reaching new all-time highs in October
- The Midwest and Northeast saw the fastest home price growth overall, while the Southwest and West continue to lag