Home prices jump 18.4% in October
U.S. home prices have reported their fifth-largest annual gain on record after S&P CoreLogic Case-Shiller's 20-city composite index surged 18.4% year-over-year in October. However, the figure marks a slowdown from the 19.1% year-over-year growth in September and came in below Refinitiv's 18.5% growth estimate.
In addition, Case Shiller's national home price index, which covers all nine U.S. census divisions, reported a 19.1% annual gain in October, down from 19.7% in the previous month, while the 10-city composite increased 17.1% year-over-year, down from 17.9% in the previous month.
Before seasonal adjustment,...