HOME PRICES HIT A NEW RECORD HIGH IN SEPTEMBER

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Key Points:

  • The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 3.9% in the year that ended in September after rising 2.5% in August.
  • The September level was the highest since the index began in 1987.
  • The 20-City Composite posted a year-over-year increase of 3.9%, up from a 2.1% increase in the previous month.
  • The 10-City Composite showed an increase of 4.8%, up from a 3.0% increase in the previous month.
  • Detroit surpassed Chicago, reporting the highest year-over-year gain among the 20 cities with an 6.7% increase in September, followed by San Diego with a 6.5% increase.
  • Just three of the 20 cities reported lower prices in September versus a year ago.
  • The Right Facts will continue to monitor home prices.
Source