The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index posted a 5.6% annual gain in October, extending its all-time high from September.
“Home prices and the economy are both enjoying robust numbers,” David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a release. “However, mortgage interest rates rose in November and are expected to rise further as home prices continue to outpace gains in wages and personal income."
The index logged a 5.4% annual increase in September.
In October, the 10-city composite saw a 4.3% annual increase, and the 20-city composite ticked up 5.1%.
Seattle, Denver, and Portland, Ore., had the highest year-over-year increases. Seattle saw the largest year-over-year home-price gain, at 10.7%.
On a seasonally adjusted month-over-month basis, the national index increased 0.9%, with both the 10-city composite and the 20-city composite reporting 0.6% increases. Before seasonal adjustment, the national index rose 0.2% month over month in October, with the 10-city composite unchanged and the 20-city composite logging a 0.1% increase.
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