Home price gains declined across the U.S. in November, according to the latest data from the S&P CoreLogic Case-Shiller Indices. That marks the fifth consecutive month of declines.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index covers all nine U.S. census divisions. It reported a 7.7% annual gain in November. That’s down from 9.2% in the previous month.
The 10-City Composite annual increase came in at 6.3%, down from 8.0% in the previous month.
The 20-City Composite posted a 6.8% year-over-year gain, down from 8.6% in the previous month.
Miami, Tampa, and Atlanta reported the highest year-over-year gains among the 20 cities in November.
Miami led with an 18.4% year-over-year price increase. Tampa followed with a 16.9% increase. Atlanta ranked third with a 12.7% increase. All 20 cities reported lower price increases in the year ending November 2022 versus the year ending October 2022.
Before seasonal adjustment, the U.S. National Index posted a -0.6% month-over-month decrease in November. The 10-City and 20-City Composites posted decreases of -0.7% and -0.8%, respectively.
After seasonal adjustment, the U.S. National Index posted a month-over-month decrease of -0.3%. The 10-City and 20-City Composites both posted decreases of -0.5%.
In November, all 20 cities reported declines before seasonal adjustments. After seasonal adjustments, 19 cities reported declines. Only Detroit increased — and that, by 0.1%.