The S&P CoreLogic Case-Shiller Indexes (HPI) continued to show an upward trend for home prices in November, and year-over-year, beating the forecast. The 20-City Composite posted a 0.5% monthly gain and a 2.6% year-over-year gain, up from 2.2% in the previous month.
Forecasts for the 20-City ranged from a low of 0.3% to 0.4%. The consensus forecast was 0.4%.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, posted a 3.5% annual gain in November, up from 3.2% in the previous month.
The 10-City Composite posted a 2.0% annual increase, 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.
“The U.S. housing market was stable in November,” Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices, said. “With the month’s 3.5% increase in the national composite index, home prices are currently 59% above the trough reached in February 2012, and 15% above their pre-financial crisis peak.”
“November’s results were broad-based, with gains in every city in our 20-city composite.”
Phoenix, Charlotte and Tampa led the S&P CoreLogic Case-Shiller 20-City with the highest year-over-year. In November, Phoenix posted a 5.9% year-over-year price gain, followed by Charlotte at 5.2% and Tampa at 5.0%. Fifteen of the 20 cities reported greater price increases in the year ending November 2019 versus the year ending October 2019.
“At a regional level, Phoenix retains the top spot for the sixth consecutive month, with a gain of 5.9% for November,” Mr. Lazzara noted. “Charlotte and Tampa rose by 5.2% and 5.0% respectively, leading the Southeast region. The Southeast has led all regions since January 2019.”
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.