HOME PRICES FELL IN NOVEMBER FOR THE FIFTH STRAIGHT MONTH
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 7.7% in the year that ended in November, down from 9.2% in the previous month.
This is the fifth straight month home prices have fallen.
The 20-City Composite posted a 6.8% year-over-year gain, down from 8.6% in the previous month.
The 10-City Composite posted an 6.3% year-over-year gain, down from 8.0% in the previous month.
Miami reported the highest gains among the 20 cities in November with a 18.4% year-over-year price increase, followed by Tampa with a 16.9% increase, and Atlanta with a 12.7% increase.
All 20 cities reported lower price increases in the year ending November 2022 versus the year ending October 2022.
The Right Facts will continue to monitor home prices.