U.S. home prices surged in October as the housing market remains strong after the COVID-19 pandemic, according to a key economic indicator.
Home prices climbed 18.4% in October compared to one year earlier, a deceleration from a 19.1% year-over-year increase in September, according to the S&P Corelogic Case-Shiller Index. Experts surveyed by The Wall Street Journal projected the index would grow 18.6% in November.
All 20 cities included in the index posted double-digit annualized gains. Phoenix saw a 32.3% increase, Tampa Bay, Florida, grew 28.1% and Miami increased 25.7%, according to the report.Read More