Recent peak mortgage rates of more than 8% in October didn't deter home prices from having their highest year-over-year price percentage gain, according to the S&P CoreLogic Case-Shiller Home Price Index.
Home prices rose 4.8% nationally in October compared with October 2022, a jump from the 4% annual increase in September.
Among the top 20 cities, Detroit reported the largest year-over-year gain in home prices at 8.1% in October. San Diego followed with a 7.2% increase and New York was next with a 7.1% gain.
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