Home Prices Surge

COVID-induced demand from homebuyers over the summer caused an exceptionally strong spike in home prices in September.

Home values jumped 7% annually in September, up from a 5.8% annual gain in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. That is the largest annual gain since September 2014. Prices are now nearly 23% higher than their last peak in 2006.