Home values have grown at a breakneck pace since June, driven by an extreme lack of inventory and incredibly high demand, further cementing the housing market’s overall strength amid an uncertain economy. But while for-sale housing remains hot, the rental market just keeps getting colder. Monthly Home Value Growth Hits Highest Level Since Mid-2000s Housing Boom The typical U.S. home value rose to $259,906 in September, up a whopping 0.8% from August — the fastest monthly growth pace since November 2005, in the midst of the last housing boom. For the third month in a row, typical home values were up in every major U.S. metro in September compared to August, with increases ranging from 0.5% in Orlando to 1.5% in San Jose. Monthly growth accelerated in 39 of the top 50 metros. Home values were up 2.2% from June, the largest quarterly increase since October 2013, and up 5.8% year-over-year. Annual growth was fastest in Phoenix (11.7%), San Jose (11.5%) and Seattle (10.7%).