Real Estate Prices – Best Gains in Six Years
Real Estate Prices
The just released S&P/Case Shiller composite index of real estate prices in 20 metropolitan areas gained 0.6 percent in November on a seasonally adjusted basis.
This real estate price increase was the 10th month in a row that prices have gained, the longest string of gains since before 2006.
Now, it’s not all positive because on a non-adjusted basis, home prices actually slipped 0.1 percent. The non-adjusted numbers showed prices fell in about half of the cities covered by the survey.
Phoenix, Arizona showed the biggest yearly gain at 22.8 percent, while New York City was the only city to fall, down 1.2 percent from the previous year.