"November Sees Record High Home Prices Despite Cooling Trend in Some Cities"
TL;DR
U.S. home prices in the 20 largest metros reached a new high in November, marking a 10th consecutive month of increases, driven by a low inventory of homes for sale. The S&P CoreLogic Case-Shiller 20-city house price index rose 0.1% in November, with Detroit leading in year-over-year price gains. Despite elevated mortgage rates, the persistent supply shortage is expected to continue driving prices upwards, especially with rates falling and demand increasing.
Topics:businessreal-estate#case-shiller-index#home-prices#mortgage-rates#real-estate#us-housing-market
- Home prices hit a new high in November, Case-Shiller says MarketWatch
- Home-Price Growth Accelerated in November The Wall Street Journal
- Home prices began to cool in November after nine straight months of gains, S&P Case-Shiller says CNBC
- Home price growth persisted at end of 2023 despite decade-high mortgage rates Yahoo Finance
- Home Prices Are Cooling—But Not in These 6 Cities Barron's
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