New data from CoreLogic showed that housing prices in 20 U.S. cities rose to a record three-year high in September.
Seattle led the index data with a 12.9 percent increase in housing prices, along with Las Vegas at 9 percent, however, all 20 cities showed year-over-year gains, Bloomberg reports. Chicago and Washington had the slowest gains at 3.9 percent and 3.1 percent, respectively.
“Most economic indicators suggest that home prices can see further gains,” David Blitzer, chairman of the S&P index committee, said in a statement. “One dark cloud for housing is affordability -- rising prices mean that some people will be squeezed out of the market.”
Advertisement
Related Stories
Townhomes
Townhome Construction Gains in Popularity as Buyers Seek Medium-Density Housing
Townhouses made up 18% of single-family housing starts during Q1 2024
Housing Markets
5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped
Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%
Housing Markets
Spring Housing Markets: Which Markets Saw the Most Appreciation, and Which Saw the Least?
Florida metros saw the weakest appreciation of all housing markets in the US