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.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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