Detroit reported the highest year-over-year gain among the 20 cities measured with an 8.1% annual increase, followed by San Diego with a 7.2% increase. Portland fell 0.6% and was the only city with lower prices in October versus a year ago.

“U.S. home prices accelerated at their fastest annual rate of the year in October,” said Brian Luke, head of commodities real and digital assets at S&P DJI. “Home prices leaned into the highest mortgage rates recorded in this market cycle and continued to push higher. With mortgage rates easing and the Federal Reserve guiding toward a slightly more accommodative stance, homeowners may be poised to see more appreciation.”

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