Home prices surged in March to another all-time high for the sixth month out of the last twelve, S&P Global announced Tuesday.
The Case-Shiller U.S. National Home Price Index, which measures home prices across the entire country, rose 6.5 percent year-over-year in March, matching the annual gain in February, according to S&P Global. The increase in the price of homes is higher than the general pace of inflation, which increased 3.4 percent year-over-year in April.
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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.
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