HOME SALES FELL IN DECEMBER, PRICES UP 18.8% IN LAST YEAR
Home-price growth slowed slightly in September as sky-high prices deterred some buyers.
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18.8% in the year that ended in November, down from 19.0% in the previous month.
The 20-City Composite posted an 18.3% year-over-year gain, down from 18.5% in the previous month.
Phoenix reported the highest gains among the 20 cities in September with a 32.2% year-over-year price increase, followed by Tampa with a 29.0% increase and Miami with a 26.6% increase.
The median existing-home sales price in December rose 15.8% from a year earlier to $358,000, the National Association of Realtors said earlier this month.
While the number of home sales fell 4.6% in December, the proportion of first-time buyers rose to 30%, up from 26% in November, but down from 31% a year earlier, according to NAR.
The Right Facts will continue to monitor home prices.