Hot Housing Prices
Start To Cool Down , in the United States.
CNN reports the overheated prices
of homes in the United States are now showing signs of cooling.
Per the S&P CoreLogic Case Shiller U.S. National Home Price Index in November, house prices rose by 18% year-over-year.
Despite the rise in year-over-year numbers,
November's home prices decreased
19.1% from the previous month.
For the past several months, prices have continued to rise
at a very high rate,
but the increases have
been getting smaller. , Craig J. Lazzara, managing director of S&P Down Jones Indices, via CNN.
Even when considering the current deceleration of housing prices, November's gain ranks sixth-highest in the
U.S. National Home Price Index's history.
Phoenix, Arizona's, housing prices have
led the charge during the coronavirus pandemic, increasing 32.2% annually.
Directly behind Phoenix is Tampa, Florida, where prices went up by 29%,
and Miami, Florida, which
experienced increases of 26.6%.
Directly behind Phoenix is Tampa, Florida, where prices went up by 29%,
and Miami, Florida, which
experienced increases of 26.6%.
We continue to see very strong growth at the city level, Craig J. Lazzara, managing director of S&P Down Jones Indices, via CNN.
Experts say housing prices have
been pushed to all-time highs,
partly due to a lack of inventory.
Increasing home prices will continue to be the norm as long as supply is restricted. , Bill Dallas, president of Finance of America Mortgage, via CNN