Fastest Home Price Gains in Six Years; Rates Recover After Starting Higher; Covid Changing Housing

Fastest Home Price Gains in Six Years; Rates Recover After Starting Higher; Covid Changing Housing

The annual increases in U.S. home prices is nearing dizzying levels. The November data from the Federal Housing Finance Agency (FHFA) crossed into double digits for the second consecutive month while the months numbers from S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index came close. The Case-Shiller index, which covers all nine U.S. census divisions, gained 9.5 percent compared to the previous November. The annual increase in October was 8.4 percent. On a seasonally adjusted monthly basis the National Index rose 1.4 percent and was 1.1 percent higher on an unadjusted basis. Appreciation in Case-Shiller's two composite indices also accelerated - each rose more than a single percentage point from the annual gains in October. The 10-City composite's increase came in at 8.8 percent