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US home prices surge 18.4% in October

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U.S. home prices surged again in October as the housing market continues to boom in the wake of last year’s coronavirus recession. The S&P CoreLogic Case-Shiller 20-city home price index, out Tuesday, climbed 18.4% in October from a year earlier. The gain marked a slight decleration from a 19.1% year-over-year increase in September but was about in line with what economists had been expecting. All 20 cities posted double-digit annual gains. The hottest markets were Phoenix (up 32.3%), Tampa (28.1%) and Miami (25.7%). Minneapolis and Chicago posted the smallest increases, 11.5% each.

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Snow blasts California and freezes Pacific Northwest

Blowing snow in mountains of Northern California and Nevada closed key highways over the weekend, while an arctic blast brought frigid temperatures to the Pacific Northwest and unusually warm weather settled over parts of Texas and the Southeast. Officials on Monday say a Donner Pass record in the Sierra Nevada has been broken for the snowiest December record, previously set in 1970. The Northstar California Resort in Truckee has closed […]

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