The S&P/Case-Shiller 20-city composite index increased 4.3 percent from a year ago, slightly off from October’s year-over-year pace. The national index increased 4.7 percent in November year over year.
Home Prices Continue to Slow
- The S&P/Case-Shiller 20-city composite home price index rose slightly faster than expectations in November, rising 0.74 percent on a seasonally adjusted basis. Over the past three months, the index increased at a 7.2 percent annualized rate.
- Tampa, Atlanta and San Francisco led the way, all rising at better than a 14 percent pace on a three-month annualized basis. Rapid growth in the tech sector is boosting the latter two.
Mixed Across Metros, Pullback in Foreign Markets
- Home prices in Texas are still holding up well. Dallas posted a three-month annualized gain of 12.8 percent. CoreLogic data show home prices in Houston have moderated slightly in recent months but remain up 10.6 percent year-over-year in November.
- A few markets with exposure to foreign buyers, including New York City and Seattle, have seen price appreciation slow, reflecting a stronger U.S. dollar and slower growth overseas.
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