Seattle, Las Vegas and San Diego are the cities leading the charge when it comes to U.S. home prices, according to data released Tuesday.
The West Coast topped The Standard & Poor’s CoreLogic Case-Shiller Home Price Index, a comparison of U.S. home prices in 20 cities from this September to last September.
The index is rising at the fastest annual rate since June 2014, said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices—the publisher of the data—in the report.
Overall, the 20-city index posted a 6.2% gain over the past 12 months, up from 5.8% last month. Luxury data was not broken out in the report.
Seattle led the way with a 12.9% year-over-year price increase, followed by Las Vegas (9%) and San Diego (8.2%).
Thirteen cities reported greater yearly price increases between September 2016 and September 2017, versus August 2016-’17. Sixteen cities saw their annual price increase compared to the previous month, Mr. Blitzer said.
“Home prices were higher in all 20 cities tracked by these indices compared to a year earlier,” Mr. Blitzer said. “Strength continues to be concentrated in the west with Seattle, Las Vegas, San Diego and Portland seeing the largest gains.”
The smallest increases were in Atlanta, New York, Miami and Chicago. Eight cities—San Francisco; Denver; Atlanta; Boston; Charlotte, North Carolina; Portland, Oregon; Dallas and Seattle—have surpassed their pre-financial crisis peaks, the report said.
S&P Dow Jones Indices is not affiliated with Dow Jones Media Group, publisher of Mansion Global.
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