US home prices rose last month, with Phoenix being the nation’s hottest market, up 33.1 percent since last September, the Associated Press reported.

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Phoenix was followed by Tampa, with a 27.7 percent increase, and Miami with a 25.3 percent increase. The smallest increases were in Chicago with 11.8 percent and Minneapolis increasing 12.8 percent.

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The housing market has remained strong this year with limited supply of homes in the market, low mortgage rates and rising demand from consumers who were locked in their homes during the height of the coronavirus pandemic.

S&P Dow Jones Index Managing Director Craig J. “Housing prices continued to strengthen significantly in September, although the pace of price increases moderated slightly,” Lazara said. “We have previously suggested that strength in the US housing market is being driven by homes’ response to the COVID pandemic, as potential buyers move from urban apartments to suburban homes.”

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Demand for new homes is also helping the market, and keeping homes on the market for a short period of time. According to the National Association of Realtors (NAR), 82 percent of homes sold in October were on the market for less than a month. Some homes sell out within a few days of listing, typically remaining on the market for 18 days before being purchased.

According to the NAR, the national median home value rose to $353,900 last month, a 13.1 percent increase from last October.

For more reporting from the Associated Press, see below.

S&P CoreLogic Case-Shiller 20-city home prices climbed 19.1 percent in September from a year ago. Strong price gains have been offset by August’s 19.6 percent year-on-year growth. Still, September prices set records in all 20 cities.

Last week, NAR reported that sales of pre-occupied homes rose 0.8 percent last month to a seasonally adjusted annual rate of 6.3 million, the strongest annual pace since January. The Commerce Department reported last week that new home prices rose a disappointing 0.4 percent last month as average prices rose nearly 18 percent from a year ago to a record $407,700.

“Most indicators suggest that prices continue to rise, albeit at a slightly slower pace, amid tight supply conditions and a structural shift in demand for single-family, suburban homes induced by the pandemic,” Contingent Macro Advisors said in a research report. ” ,