5 US cities where housing prices are rising the fastest

US home price increases slowed in September to their lowest level in nearly two years, according to the S&P CoreLogic Case-Shiller Index released on Tuesday. But not in those five cities, which will be discussed below.

Фото: Depositphotos

“House prices plus home sales and construction data confirm a slowdown in growth,” said David Blitzer, managing director and chairman of the S&P Dow Jones Indices index committee, as quoted by Fox Business.

Home prices rose 5,5% in September, up from 5,7% in August - a pace that has slowed for two months in a row. Wages in some of the country's largest cities have also seen their growth rates slow, particularly in Seattle and San Diego, which has also slowed the rate at which home and building prices are rising.

Nevertheless, despite the slowdown in price growth across the country, in these cities over the past year housing has risen in price and continues to go up, reaching a maximum pace over the past year:

Las Vegas

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Las Vegas real estate prices rose 12% in the 13,5 months ending in September, the largest increase in the Case-Shiller Index. Monthly growth is somewhat more flattened at just 0,6%.

San Francisco

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Prices in San Francisco recorded the second largest increase in the year, approximately 10%. Between August and September, prices have hardly changed.

Seattle

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While Seattle has gained a lot this year compared to previous periods, land prices here fell 1,3%. But as of September, home prices are still rising, up 8,4% year-over-year.

Denver

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Housing prices in Denver rose by 7,3% over the same time period last year. However, the increase from month to month actually decreased by 0,1%.

Phoenix

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In Phoenix, housing prices rose by a seasonally adjusted 0,9% from August to September. From July to August, the increase was only 0,3%. By the end of the year ending in September, housing prices in the city increased by 7,2%.

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