S&P CoreLogic Case-Shiller National Home Price Index Increases 18.8% in November

According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. Census divisions, reported today (1-25-22) that home prices experienced a 18.8% annual gain in November. This is down from a 19.0% annual gain in October, which was down from the 19.7% annual gain in September 2021.

The 10-City Composite annual increase came in at 16.8%, down from 17.2% in October. The 20-City Composite posted a 18.3% year-over-year gain, down from 18.5% in the previous month. Leading the way in year-over-year price increases in October were Phoenix with a 32.2% gain, followed by Tampa with a 29.0% increase, and Miami with a 26.6% gain. Eleven of the 20 cities reported higher price increases in the year ending November 2021, versus the year ending in October 2021.

Month-over-month, before seasonal adjustment, the U.S. National Index posted a 0.9% increase in November, while the 10-City and 20-City Composites posted increases of 0.9% and 1.0%, respectively. After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.1%, and the 10-City and 20-City Composites posted increases of 1.1% and 1.2%, respectively. In November, 19 of the 20 cities reported increases before seasonal adjustments, while all 20 cities reported increases after seasonal adjustments.