Home appreciation increased by 5.2% in November, down from 5.3% the previous month, according to the latest S&P CoreLogic Case-Shiller National Home Price Index released today.
The 10-city composite index posted a 4.3% price gain in November, down from October's 4.7% reading, while the 20-city index posted a 4.7% year-over-year gain, down from 5% the previous month.
"Home prices are rising, but more slowly than in recent months," David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, said in a
press release announcing the latest price data. "The pace of price increases are being dampened by declining sales of existing homes and weaker affordability."
Las Vegas, Phoenix and Seattle reported the highest year-over-year gains among the 20 cities. In November, Las Vegas led the way with a 12% year-over-year price increase, followed by Phoenix with an 8.1% gain and Seattle with a 6.3% rise.
Seven of the 20 cities reported greater price increases in the year ending November 2018 vs. the year ending October 2018.
The table below summarizes the results for November 2018. The S&P CoreLogic Case-Shiller Indices are revised for the prior 24 months, based on the receipt of additional source data.
Metro Area Nov. 2018 Level Nov/Oct % Change Oct/Sep % Change 1-Year % Change
| Atlanta |
148.88 |
0.3% |
0.2% |
6.2% |
| Boston |
216.59 |
0.1% |
0.1% |
5.6% |
| Charlotte |
159.30 |
0.2% |
0.3% |
5.5% |
| Chicago |
143.53 |
-0.7% |
-0.3% |
3.1% |
| Cleveland |
122.93 |
-0.7% |
-0.6% |
4.6% |
| Dallas |
187.85 |
0.2% |
0.0% |
4.0% |
| Denver |
215.43 |
-0.3% |
-0.3% |
6.2% |
| Detroit |
124.14 |
-0.4% |
-0.2% |
5.7% |
| Las Vegas |
189.97 |
0.0% |
0.3% |
12.0% |
| Los Angeles |
281.99 |
-0.3% |
0.0% |
4.4% |
| Miami |
239.54 |
0.3% |
0.2% |
5.0% |
| Minneapolis |
172.99 |
-0.2% |
-0.2% |
5.8% |
| New York |
202.44 |
0.4% |
0.5% |
3.5% |
| Phoenix |
187.47 |
0.3% |
0.7% |
8.1% |
| Portland |
232.60 |
-0.5% |
-0.5% |
4.4% |
| San Diego |
253.85 |
-0.6% |
-0.2% |
3.3% |
| San Francisco |
265.35 |
-0.7% |
-0.7% |
5.6% |
| Seattle |
245.83 |
-0.7% |
-1.0% |
6.3% |
| Tampa |
214.05 |
0.4% |
0.3% |
5.7% |
| Washington |
227.96 |
0.0% |
0.0% |
2.7% |
| Composite-10 |
227.42 |
-0.1% |
0.1% |
4.3% |
| Composite-20 |
213.66 |
-0.1% |
0.0% |
4.7% |
| U.S. National |
205.85 |
0.1% |
0.0% |
5.2% |
Sources: S&P Dow Jones Indices and CoreLogic
Data through November 2018
