Home prices posted big gains from a year earlier despite the housing market trending towards its traditionally slower season in November.
- Prices surged 18.8% year-over-year on the S&P CoreLogic Case-Shiller National Home Price Index. That figure was a slower rate than the October pace that was 19% annual gain.
- The 10-city composite increased 16.8% annually, way down from 17.2% in the prior month. The 20-city composite expanded by 18.3%, slightly down from 18.5% in October.
- Craig Lazarra, managing director of S&P DJI, stated that despite the deceleration, November’s 18.8% gain was the sixth-highest ever recorded in the 34 years covered by the organization.
- Some markets were posting impressive gains. Phoenix, Tampa, and Miami recorded the highest year-over-year gains among the 20 cities in November, with gains of 32.2%, 29.0%, and 26.6%, respectively.
Chicago, Minneapolis, and Washington, D.C. recorded the smallest annual gain but was still up nearly 11%.
DXY up +0.35%, EUR USD down -0.48%Source: S&P Dow Jones Indices