The numbers: The S&P CoreLogic Case-Shiller 20-city price index posted a 18.3% year-over-year gain in November, down slightly from 18.5% the previous month. On a month-to-month basis, the index raised 0.9% between October and also November.
Meanwhile, the Case-Shiller nationwide home price index demonstrated 18.8% development in between 2020 as well as 2021 in November, additionally below the previous month.
The Federal Housing Finance Agency released its own home price index, which showed that costs increased 17.5% on a yearly basis in November.
” House cost levels remained raised in November, yet the information suggest a pivot,” Will Doerner, supervisory economic expert in the FHFA’s division of research study and also statistics, stated in the report.
” The last 4 months show ordinary gains of 1 percent point, below the larger prior adjustments during the springtime and also summer months,” he added. “This new pattern is a welcome change but still twice the monthly standard we have actually seen in the last 20 years, which echoes worries about access and also affordability in housing markets.”
Secret details: Once again, Phoenix recorded the highest price of home-price growth in the country in November, with a 32.2% year-over-year increase. Two Florida cities closely adhered to: Tampa with a 29% uptick and Miami with a 26.6% gain.