Home prices continue to surge, notching double digit increases locally and nationally as the market continues to boom in the wake of last year’s coronavirus recession.
WASHINGTON — Home prices continue to surge, notching double-digit increases locally and nationally as the market continues to boom in the wake of last year’s coronavirus recession. The S&P CoreLogic Case-Shiller 20-city home price index, out Tuesday, climbed 18.4% in October from a year earlier. The gain marked a slight deceleration from a 19.1% year-over-year increase in September but was about in line with what economists had been expecting. Prices followed suit in Massachusetts, with the median sale price of a single-family home hitting $510,000, up 11% over November 2020 and 30% higher than the $391,000 November 2019 median, according to data from The Warren Group. Nationally, all 20 cities in the index posted double-digit annual gains. The hottest markets were Phoenix (up 32.3%), Tampa (28.1%) and Miami (25.7%). Minneapolis and Chicago posted the smallest increases,11.
