Home prices are at a 45-year high, pricing many buyers out of an historic seller’s market, new data published by CoreLogic show.
Annual home prices were 18% higher in October of this year than they were last October, and were also the highest recorded in the 45-year history of a Home Price Index published by the global property company.
Even though they already are at historic highs, home prices in the Valley are increasing faster than in any other market in America.
The S&P CoreLogic Case-Schiller Home Price Index from September showed Phoenix home sale prices increased more than 33% from September 2020.
Of the 20 major metropolitan markets the index tracks, no other city increased as much in the report, which was released Tuesday. The next-highest annual percentage increase was Tampa Bay at 27.7%.