News

In November, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index recorded a 3.8% annual gain, up from 3.6% in October. The 10-City Composite saw an annual increase of 4.9% in November, the same as the previous month, while the 20-City Composite rose 4.3% year-over-year, up from 4.2%. Among the 20 cities, New York again posted the highest annual gain at 7.3%, followed by Chicago at 6.2% and Washington at 5.9%. Tampa again exhibited the lowest annual increase at 0.4%.

On a month-over-month basis, both the U.S. National Index and 20-City Composite dropped 0.1% before seasonal adjustment but increased 0.4% after adjustment. Meanwhile, the 10-City Composite stayed the same pre-adjustment, but rose 0.4% post-adjustment.

The National Index is at an 18th consecutive all-time high, and only the Tampa market fell during the past month. When excluding fast-growing regions, national home prices are trending below historical averages. New York, Washington, D.C., and Chicago are performing well above the norm, and the Northeast is the fastest growing region, with a 6.1% annual gain. Meanwhile, markets in the West and South are trending below average. In fact, Tampa and the entire Southern region rank in the bottom quartile of historical annual gains, dating back to 1988.