Home values in major metro areas across the country continued to climb in October, according to data released Tuesday by Quicken Loans.
The Detroit-based online lender said that its monthly Home Value Index increased 2.03% from the previous month. On a year-over-year basis, the index increased by 3.35%.
Most of the appreciation occurred in the South and Northeast regions of the country. Prices in metropolitan areas in the West and Midwest, on the other hand, remained relatively flat.
“The vast majority of the country is seeing steady, single-digit home value increases,” said Bob Walters, chief economist at Quicken Loans, in a press release. “This is the healthy momentum we look for in a stable housing market.”