Home prices in select cities throughout the United States continued to increase in November 2013. Data released Tuesday by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed that the 10-City and 20-City Composites increased, respectively, 13.8 percent and 13.7 percent year-over-year. Dallas posted its highest annual return of 9.9 percent since its inception in 2000. Chicago also stood out with an annual rate of 11.0 percent, its highest since December 1988.
Home prices in select cities throughout the United States continued to increase in November 2013. Data released Tuesday by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed that the 10-City and 20-City Composites increased, respectively, 13.8 percent and 13.7 percent year-over-year. Dallas posted its highest annual return of 9.9 percent since its inception in 2000. Chicago also stood out with an annual rate of 11.0 percent, its highest since December 1988.
For the month of November, the two Composites declined 0.1 percent. After nine consecutive months of gains, this marks the first decrease since November 2012. Nine out of 20 cities recorded positive monthly returns; of these nine, Boston and Cleveland were the only cities not in the Sun Belt. "November was a good month for home prices," David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. "Despite the slight decline, the 10-City and 20-City Composites showed their best November performance since 2005. Prices typically weaken as we move closer to the winter."
