US Home Prices Accelerate At Fastest Pace In 9 Months

Case-Shiller home price gains have re-accelerated over the last 3 months and analysts expected another acceleration in November (the latest data set) and were right as the 20-City Composite surge 2.55% YoY (better than the +2.40% YoY expectation).

This is the biggest YoY rise since Feb 2019…

Source: Bloomberg

Home prices climbed 0.5% from the previous month – also topping forecasts – matching the October increase for the best back-to-back gains since early 2018.

All 20 cities in the index showed year-over-year home-price gains, led by Phoenix; Charlotte, North Carolina; and Tampa, Florida.

After dropping YoY in September and October, the mecca of all things socially just and tech-savvy – San Francisco – saw prices adjust higher and back into the green YoY…

Source: Bloomberg

Finally, a broader national index of home prices was up 3.5% from a year earlier, the most since April.