A homes merchantability motion is shown successful beforehand of a caller location operation tract successful Northbrook, Ill., Wednesday, June 23, 2021. U.S. location prices roseate briskly successful September, different motion that the lodging marketplace is booming successful the aftermath of past year's coronavirus recession. (AP Photo/Nam Y. Huh) (Nam Y. Huh, Copyright 2021 The Associated Press. All rights reserved.)

WASHINGTON – U.S. location prices roseate briskly successful September, different motion that the lodging marketplace is booming successful the aftermath of past year's coronavirus recession.

The S&P CoreLogic Case-Shiller 20-city location terms climbed 19.1% successful September from a twelvemonth earlier. The beardown terms gains marked a deceleration from August's 19.6% year-over-year increase. Still, September prices successful each 20 cities acceptable caller records.

Phoenix was the nation's hottest market, registering a 33.1% terms increase. It was followed by Tampa (where prices roseate 27.7%) and Miami (25.2%). All 20 cities reported double-digit increases. The smallest gains were successful Chicago (up 11.8%) and Minneapolis (12.8%).

The lodging marketplace has been strong, acknowledgment to rock-bottom owe rates, a constricted proviso of homes connected the marketplace and pent-up request from consumers locked successful past twelvemonth by the pandemic.

“Housing prices continued to amusement singular spot successful September, though the gait of terms increases declined slightly,'' said Craig J. Lazzara, managing manager astatine S&P Dow Jones Indices. He added: “We person antecedently suggested that the spot successful the U.S. lodging marketplace is being driven by households’ absorption to the COVID pandemic, arsenic imaginable buyers determination from municipality apartments to suburban homes.''

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Last week, the National Association of Realtors reported that income of antecedently occupied homes roseate 0.8% past period to a seasonally adjusted yearly complaint of 6.3 million, strongest yearly gait since January. The Commerce Department reported past week that new-home prices edged up a disappointing 0.4% past period arsenic median prices roseate astir 18% from a twelvemonth earlier to a grounds $407,700.

“Most indicators suggest prices person continued to borderline higher, albeit astatine a somewhat slower pace, amid choky proviso conditions and the structural displacement successful request towards single-family, suburban homes induced by the pandemic,'' Contingent Macro Advisors said successful a probe report.

Copyright 2021 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.