Despite higher mortgage rates and limited inventory, home prices continued to gradually rise year over year in December.
Annual U.S. home price growth continued to gradually increase in December, fueled by a healthy job market.
Home prices were up by 5.1% year over year in November, according to the latest US CoreLogic S&P Case-Shiller Index.
U.S. home prices grew by 5.2% year over year in November, with the Northeast again leading the gains.
U.S. home price growth moved up again in October on an annual basis, with Northeastern states again posting the highest appreciation.
The index posted its third consecutive month of annual increases in September.
U.S. annual home price growth moved up to 4.5% in September, the highest appreciation recorded since early 2023.
U.S. home prices rose from one year ago, but mortgage rate movements will play a role going forward.
Annual U.S. home price growth regained steam again in August, with New England leading the charge.
The index has now registered a 6% cumulative gain since the beginning of 2023.
U.S. home prices began rebounding on an annual basis in July, rising by 2.5%.