Home Prices Increase 6.6% Across 20 US Cities in September

Prices increased 6.6 percent year-over-year in September (iStock)

Prices increased 6.6 percent year-over-year in September (iStock)

Housing prices continue to soar into the fall.

Prices increased 6.6 percent year-over-year in September, according to the S&P CoreLogic Case-Shiller home price index, which tracks the housing market in 20 cities including New York City, Los Angeles, Miami and Chicago. In August, the price index jumped 5.2 percent.

Phoenix, Seattle and San Diego saw the biggest gains in home prices, repeating their performance from August. Phoenix reported a 11.4 percent increase, Seattle a 10 percent gain and San Diego had a 9.5 percent bump.

The S&P CoreLogic Case-Shiller national home price index, which tracks prices across the entire country, increased by 7 percent, up from 5.8 percent in August. Its monthly indices have been tracking the U.S. housing market for 27 years.

The rise in prices nationwide comes as demand for homes is high — in October, 6.85 million existing homes

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Home Prices Continued To Explode In September: Case-Shiller

Home prices continued their torrid upward trajectory in September, rising 7 percent year-over-year according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

Phoenix, Seattle and San Diego saw the biggest annual price increases of the 20 metro areas tracked by the index. Prices rose 11.4 percent year-over-year in Phoenix, followed by Seattle which saw an 10.1 percent increase and San Diego, which saw a 9.5 percent increase. Every city tracked by the index reported annual price increases.

“Housing prices were notably — I am tempted to say ‘very’ — strong in September,” Craig Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, said in a statement.

“The strength of the housing market was consistent nationally — all 19 cities for which we have September data rose, and all 19 gained more in the 12 months ended in September than they

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September Home Prices Saw the Biggest Spike in 6 Years

A generic price tag cutout with dollar signs on it.

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Mortgage rates keep plunging as the economy remains sluggish in the coronavirus pandemic. That’s led to an uptick in buyer demand. 

But many buyers have struggled to purchase homes, and high prices have a lot to do with that. In fact, home values rose 7% year over year in September, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. That’s the largest annual gain since September of 2014. The result? Home prices are now almost 23% higher than when they last peaked, back in 2006. 

Limited inventory is also driving prices up

It’s not just low mortgages rates creating a surge in buyer demand. Housing inventory has also been extremely limited during the

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S&P CoreLogic Case-Shiller Indices show Chicago-area home values rose 4.7 percent in September

The figure for September, when many buyers closed on purchases of homes they selected during a dramatically changed pandemic summer market, is nearly four times the figure the index reported for Chicago in August. When that gloomy figure was reported in late October, Crain’s forecast it would be the last in a years-long string of weak growth reports.

Several factors account for the sharp uptick in prices: a low inventory of homes for sale, epochally low interest rates on mortgages and households trading their pre-pandemic space for something that suits their needs for working, schooling and exercising at home. 

Data from Illinois Realtors on the September market showed big increases in the prices of Chicago-area homes. Although that group does its calculations in a less mathematically sophisticated way than Case-Shiller, its movements generally track with the national index. 

In eight of the 12 months prior to this morning’s report, Chicago

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Home prices see biggest spike in 6 years in September

People walk into a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020.

Wang Ying | Xinhua News Agency | Getty Images

Covid-induced demand from homebuyers over the summer caused an exceptionally strong spike in home prices.

Values jumped 7% annually in September, up from a 5.8% annual gain in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. That is the largest annual gain since September 2014. Prices are now nearly 23% higher than their last peak in 2006.

The 10-City Composite was up 6.2% year over year, up from 4.9% in the previous month. The 20-City Composite posted a 6.6% gain, up from 5.3% in the previous month. There was no reading for Detroit, due to data collection issues resulting from the pandemic.

This index is a three-month running average, so it represents prices from July through September, when

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U.S. Home-Price Growth Accelerated in September

Home-price growth accelerated in September, as a widespread shortage of homes for sale spurred competition among home buyers.

The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 7% in the year that ended in September, up from a 5.8% annual rate the prior month. September marked the highest annual growth rate since May 2014.

Sales of previously owned homes, which make up the bulk of the housing market, rose 9.4% in September from a month earlier to the highest level since 2006, according to the National Association of Realtors. Record-low mortgage rates have increased demand, while the supply of homes for sale has remained low, especially at affordable price points.

“The delayed spring homebuying season fueled sales well into October and past the time when they would normally begin to slow down,” said George Ratiu, senior economist for

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U.S. home prices surge to 6-year high in September, Case-Shiller index shows

Home prices are still rising during the pandemic owing to historically low interest rates and more people leaving big cities.


saul loeb/Agence France-Presse/Getty Images

The numbers: The cost of buying a house rose sharply again in September and by one measure hit a six-year high, a Case-Shiller index showed, signaling that prospective buyers are unlikely to find better deals any time soon.

A measure of home prices in 20 large cities rose at a 6.6% yearly pace in October, according to the S&P CoreLogic Case-Shiller price index. That’s up from 5.3% in the prior month.

Wall Street economists had forecast a 5.4% increase.

A broader measure by Case-Shiller that covers the entire country showed a similarly large 7% increase in home prices over the past year, marking the fastest 12-month gain since 2014.

Home prices have actually risen faster during the worst pandemic in a century instead of getting cheaper.

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Home prices see biggest spike in 6 years in September, according to S&P Case Shiller

  • Strong, Covid-induced demand from homebuyers over the summer caused an exceptionally strong spike in home prices.
  • The 10-City Composite was up 6.2% year-over-year, up from 4.9% in the previous month. The 20-City Composite posted a 6.6% gain, up from 5.3% in the previous month.



a man standing in front of a fence: People walk into a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020.


© Provided by CNBC
People walk into a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020.

Strong, Covid-induced demand from homebuyers over the summer caused an exceptionally strong spike in home prices.

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Values jumped 7% annually, in September, up from a 5.8% annual gain in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. That is the largest annual gain since September 2014. Prices are now nearly 23% higher than their last peak in 2006.

The 10-City Composite was up 6.2% year-over-year, up from 4.9% in the previous month. The 20-City Composite posted a

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Average Home Prices in the U.K. Hit a 4.7% Annual Growth Rate in September

The average U.K. home sold for £244,513 (US$324,756) in September, an impressive increase of 4.7% over last year, according to official data published Wednesday. 

Home prices picked up the pace compared to August, which logged a more subdued 3% year-over-year growth, according to the government’s monthly House Price Index. The spike in home prices comes after months of heightened activity amid the coronavirus pandemic, which shifted the home-buying season to the summer and fall months and has spurred increased interest in larger, detached properties.


Indeed, detached single-family houses saw the biggest increase in September, with average prices rising 6.2% compared to a year ago. Semi-detached homes and townhouses, otherwise known as terraced houses, recorded annual price growth of around 5%.

Price growth was far more sluggish for flats, where sales prices appreciated only 2% year-over-year, according to the report.

Two factors have helped lift home prices in the U.K. For

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Triad home prices remain on uptick in September | Local

Home prices in and around Winston-Salem remained on a sharp uptick during September, fueling a solid seller’s market, according to national real-estate research company CoreLogic.

Prices in Forsyth, Davidson, Davie, Stokes and Yadkin counties climbed 7.4% year-over-year in September, 7.2% in August and 6.3% in July.

Of North Carolina’s five main metro areas, only Charlotte-Gastonia-Concord was higher in September at 7.8%.

CoreLogic does not disclose a median house price.

When excluding distressed and foreclosed houses, local prices were up year over year 7.8% in September, compared with 7.4% in August and 6.2% in July.

By comparison, home prices in the Greensboro-High Point MSA increased 6.9% in September, 6.2% in August and 6.3% in July. When excluding distressed and foreclosed houses, prices rose 6.9% in September, 6% in August and 5.9% in July.

The Winston-Salem Association of Realtors reported that the median sales price of a house in Forsyth was $244,924

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