{"id":1454093,"date":"2024-01-30T14:09:34","date_gmt":"2024-01-30T19:09:34","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1454093"},"modified":"2024-01-30T14:09:34","modified_gmt":"2024-01-30T19:09:34","slug":"us-home-prices-rose-for-10th-straight-month-in-november-but-gains-slow-significantly","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/us-home-prices-rose-for-10th-straight-month-in-november-but-gains-slow-significantly\/1454093\/","title":{"rendered":"US Home Prices Rose For 10th Straight Month In November, But Gains Slow Significantly"},"content":{"rendered":"

US Home Prices Rose For 10th Straight Month In November, But Gains Slow Significantly<\/span><\/p>\n

\n

Home prices in America’s 20 largest cities rose for the 10th straight month in November (the latest data released by S&P Global Case-Shiller today), up 0.15% MoM (considerably slower than the 0.50% MoM expected and 0.63% prior).<\/p>\n

That is the weakest MoM rise since Jan 2023.<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

That pushed the YoY price up to +5.40% (but well below the +5.8% exp)…<\/p>\n

“November\u2019s year-over-year gain saw the largest growth in U.S. home prices in 2023,<\/strong> with our National Composite rising 5.1% and the 10-city index rising 6.2%,” says Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P DJI.<\/em><\/p>\n

Six cities registered a new all-time high price in November <\/strong>– Miami, Tampa, Atlanta, Charlotte, New York, and Cleveland.<\/p>\n

Portland is the only city with prices dropping YoY – who could have seen that coming?<\/p>\n

<\/a><\/p>\n

Is this really what Jay and his pals were expecting when they embarked on an unprecedented tightening of monetary policy?<\/p>\n

<\/a><\/p>\n

But, judging by the resumption of the rise of mortgage rates since the Case-Shiller data was created, we would expect prices to also resume their decline in the short-term…<\/p>\n

<\/a><\/p>\n

Are prices set to shrink again (as the lag on Case-Shiller data and human’s response to rates) before re-accelerating later this year?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 01\/30\/2024 – 09:09<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

US Home Prices Rose For 10th Straight Month In November, But Gains Slow Significantly Home prices in America’s 20 largest cities rose for the 10th…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1454093","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1454093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1454093"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1454093\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1454093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1454093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1454093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}