United States: Home price growth loses some pace in December
The S&P/Case-Shiller 20-city composite home price index—excluding Detroit due to reporting delays—increased 0.8% month-on-month in December down from November’s 1.1% rise. When adjusted for seasonal factors, home prices were up 1.3% in December compared to 1.4% the month prior.
Home prices climbed 10.1% in annual terms in December, which was stronger than November’s 9.2% increase and marked the quickest pace of growth since April 2014. Gains were the strongest in Phoenix for 19 straight months, followed by Seattle and San Diego. Overall, all 19 cities—Detroit data was unavailable in the index —registered price growth in December.