US home prices surged 18.4% in October

PAUL WISEMAN, AP Economics Writer
Created: December 28, 2021 04:35 PM

WASHINGTON (AP) — U.S. home prices surged again in October as the housing market continues to boom in the wake of last year's coronavirus recession.

The S&P CoreLogic Case-Shiller 20-city home price index, out Tuesday, climbed 18.4% in October from a year earlier. The gain marked a slight decleration from a 19.1% year-over-year increase in September but was about in line with what economists had been expecting.

All 20 cities posted double-digit annual gains.

The hottest markets were Phoenix (up 32.3%), Tampa (28.1%) and Miami (25.7%). Minneapolis and Chicago posted the smallest increases, 11.5% each.