US house prices up 0.6% in November, faster than expected

US house prices rose at a faster monthly pace in November, while annual growth remained modest, data from the Federal Housing Finance Agency showed on Tuesday.

The FHFA's seasonally adjusted house price index rose 0.6% in November from October, accelerating from a 0.4% increase the previous month. On an annual basis, house prices were 1.9% higher than in November 2024. The monthly uptick was sharper than an expected decelerated increase of 0.3% that was pencilled in by the FXStreet-cited consensus.

The agency said price movements varied across regions. On a seasonally adjusted monthly basis, house prices were flat in the Middle Atlantic division, while the strongest increase was recorded in the East South Central division, where prices rose 1.1%.

Over the 12 months to November, regional performance was mixed. Prices fell 0.4% in the Pacific division, marking the weakest annual reading, while the East North Central division saw the strongest increase, with prices up 5.1% year-on-year.

The FHFA house price index tracks changes in single-family home values using a repeat-sales methodology based on purchase-only mortgage data from Fannie Mae and Freddie Mac. The index covers all 50 US states and more than 400 cities.