"U.S. Home Prices Cool in November After Months of Growth, S&P Case-Shiller Reports"

According to the S&P CoreLogic Case-Shiller national home price index, home prices in November dropped 0.2% from October, marking the first monthly decline since January 2023. This cooling trend follows nine consecutive months of gains and is attributed to a sharp rise in mortgage rates, making houses less affordable. While Seattle and San Francisco reported the largest monthly price declines, six cities reached new all-time price highs. Despite the monthly drop, prices nationally were still higher than the previous year, with annual gains increasing relative to the prior month.