Home Prices Rose 3.5% YOY in November, Says Case-Shiller
New York, NY, January 28, 2020-Home prices recorded a 3.5% annual gain in November, up from 3.2% in the previous month, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
The Ten-City Composite annual increase came in at 2.0%, up from 1.7% in the previous month. The 20-City Composite posted a 2.6% year-over-year gain, up from 2.2% in the previous month.
Phoenix, Charlotte and Tampa reported the highest year-over-year gains among the 20 cities. In November, Phoenix led the way with a 5.9% year-over-year price increase, followed by Charlotte with a 5.2% increase and Tampa with a 5.0% increase. Fifteen of the 20 cities reported greater price increases in the year ending November 2019 versus the year ending October 2019.
The National Index posted a month-over-month increase of 0.2%, while the Ten-City and 20-City Composites both posted a month-over-month increase of 0.1% before seasonal adjustment in November. After seasonal adjustment, the National Index, Ten-City and 20-City Composites all posted a 0.5% increase. In November, 13 of 20 cities reported increases before seasonal adjustment while all 20 cities reported increases after seasonal adjustment.