United States: Home price growth virtually stable in September at an over seven-year-high
The S&P/Case-Shiller 20-city composite home price index—excluding Detroit due to reporting delays—increased 1.2% month-on-month in September matching August’s rise—the quickest pace since August 2013. When adjusted for seasonal factors, home prices were up 1.4% in September.
Home prices climbed 6.6% in annual terms in September, which was stronger than August’s 5.3% increase and marked the quickest pace of growth since April 2018. Gains were the strongest in Phoenix for 16 straight months, followed by Seattle and San Diego. Overall, all 19 cities—Detroit data was unavailable in the index in September—registered price growth in September.