US house prices rise by 4.3% YoY as expected: Case Shiller

The S&P CoreLogic Case-Shiller 20-city home price index in the U.S. rose 4.3% year-over-year in November 2024, slightly above the 4.2% increase in October and matching market expectations.

US house prices rise by 4.3% YoY as expected: Case Shiller

New York continued to lead with the highest annual growth (7.3%), followed by Chicago (6.2%) and Washington, D.C. (5.9%). Conversely, Tampa recorded the lowest return (-0.4%). On a monthly basis, home prices dipped 0.1%, following a 0.2% decline in October. “National home prices, apart from a few areas of above-trend performance, are running below historical averages,” noted Brian D. Luke, CFA, Head of Commodities, Real & Digital Assets.

New York leads the increases

“Markets like New York, Washington, D.C., and Chicago are outperforming historical norms, with the Northeast emerging as the fastest-growing region. However, markets in the West and formerly high-growth areas like Florida are underperforming. Tampa and the broader Southern region are in the bottom quartile of historical annual gains, based on data since 1988.”