Annual Home Price Gains Climbed to 9.5% in November
S&P CoreLogic Case-Shiller Indices released data today that shows home prices continue to increase across the U.S in November 2020. (Case-Shiller)
- Y-O-Y: The U.S. National Index reported a 9.5% annual gain in November, up from 8.4% in the previous month
- M-O-M: The U.S. National Index posted a 1.1% month-over-month increase
The West still maintains its number one destination position. The region saw 10.1% annual growth and Phoenix’s led all cities for the 18th consecutive month with 13.8% growth. Seattle and San Diego took the silver and bronze medals once again with growth at 12.7% and 12.3%, respectively.
Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices, said in a statement, ““The trend of accelerating home prices that began in June 2020 has now reached its sixth month with November’s emphatic report,”
The Case-Shiller data seems to parallel with data we saw at the end of last week from the National Association of Realtors that showed 12.2% growth in December.
It’s important to remember that even with this double-digit appreciation, people are still buying houses. Redfin highlighted on Monday that pending sales were up 32% despite new listings being down 10%