Home prices are rising across the nation, but the Covid pandemic is turning the usual geographical trends on their heads.
Home values have historically risen most sharply in large cities on the coasts, where supply is leaner and demand is stronger. That is no longer the case....
Home values have historically risen most sharply in large cities on the coasts, where supply is leaner and demand is stronger. That is no longer the case....
Key Points
- Smaller metropolitan markets like Indianapolis, Kansas City, Boise, Austin, Cleveland, Cincinnati, Memphis and Pittsburgh are seeing some of the strongest price gains in the nation.
- Prices in those cities are now at least 10% higher compared with a year ago.
- Nationally, home prices rose a remarkable 8.4% in October from a year earlier on the S&P Case Shiller Index. That’s up from a 7% gain in September and is the largest one-month move in over a decade.
RSK: Interesting. No mention of any cities in the frozen tundra of the Upper Midwest.
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- - Volume: 9 - WEEK: 3 Date: 1/12/2021 8:45:47 AM -