Real Estate

Home prices surged in November, but at a slower rate, S&P Case-Shiller says

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A “For Sale” sign is seen outside a home in New York.

Shannon Stapleton | Reuters

Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago.

Prices rose 18.8% year over year on the S&P CoreLogic Case-Shiller National Home Price Index. Yet that was a slower rate than the October pace, which was a 19% annual gain.

The 10-city composite climbed 16.8% annually, down from 17.2% in the previous month. The 20-city composite grew 18.3%, down from 18.5% in October.

“Despite this deceleration, it’s important to remember that November’s 18.8% gain was the sixth-highest reading in the 34 years covered by our data (the top five were the…



Source cnbc.com

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