The S&P CoreLogic Case-Shiller 20-city home price index in the US went up 4.3% yoy in November 2024, above 4.2% in October and in line with expectations.
New York again reported the highest annual gain (7.3%), followed by Chicago (6.2%) and Washington (5.9%).
Tampa on the other hand, posted the lowest return (-0.4%).
Compared to the previous month, house prices edged down 0.1%, following a 0.2% drop in October.
“With the exception of pockets of above-trend performance, national home prices are trending below historical averages.
Markets in New York, Washington, D.C., and Chicago are well above norms.
Unsurprisingly, the Northeast was the fastest growing region.
However, markets out west and in once red-hot Florida are trending well below average growth.
Returns for the Tampa market and entire Southern region rank in the bottom quartile of historical annual gains, with data going back to 1988,” says Brian D.
Luke, CFA, Head of Commodities, Real & Digital Assets.