Keeping you up to date on the latest data releases.
In November the S&P Case-Shiller 10- and 20-city housing price indexes posted respective annual increases of 4.5 percent and 5.5 percent, and monthly declines of 0.2 percent and 0.1 percent. Annual figures where stronger in 19 cities in November when compared to October, and ten cities showed monthly gains in November compared to only seven in October. New York was the only city to post an annual decline in November, Cleveland was flat, and Phoenix led with an increase of 22.8 percent over the past 12-months, which is its seventh consecutive month of double-digit returns. While the winter months are typically a period of weakness in the housing market, strong annual returns suggest a growing momentum within the housing market, and national home prices are back to fall 2003 levels.
From October to November the FHFA housing price index ticked up 0.6 percent to an index level of 192.2, representing a 5.6 percent increase since last November and the highest index level since May 2010. Regionally, all areas posted moderate annual gains and only two areas posted monthly declines: East North Central, down 1.0 percent and East South Central, down 0.4 percent. The Mountain division showed the strongest improvements to home prices both monthly and annually, up 2.1 percent and 14.8 percent, respectively. Overall, national home prices are back to mid-2004 index levels.