Despite a record pace of Fed rate hikes, home prices kept rising in 2023. | Economy
The S&P CoreLogic Case-Shiller 20-city house price index climbed 0.1 percent in November compared with the prior month. Compared with a year earlier, the index is up 5.4 percent. That’s a bigger gain than the 4.9 percent annual increase recorded for October.
The index tracks home prices in the 20 largest U.S. metropolitan areas. Although it is called a 20-city index, it includes the surrounding suburban areas. The figures are seasonally adjusted.
Before seasonal adjustment, the 20-city index posted a 0.2 percent decline, the first after nine months of increases. This was the first decline since January.
