The 10-City and 20-City Composites both reported increases of 0.1 percent in December compared with November, according to the S&P Home Price Indices.
The U.S. National Home Price Index, which includes all nine U.S. census divisions, had a 0.1 percent loss between November and December.
Nine cities had higher monthly growth rates, while six posted decreases. Five cities’ home price growth remained the same. The highest month-over-month price increases were seen in Miami (0.7 percent) and Denver (0.5 percent).
The 10-City and 20-City Composites both saw year-over-year increases in December compared with November.
The 10-City Composite rose 4.3 percent year-over-year in December, up from 4.2 percent in November. The 20-City Composite grew 4.5 percent year-over-year, versus a 4.3 percent rise in November.
The National Index reported a 4.6 percent annual gain in December. In November, the year-over-year increase was slightly higher at 4.7 percent.
Prices in San Francisco and Miami rose the quickest, with the cities recording increases of 9.3 percent and 8.4 percent over the last 12 months. Twelve cities, including Cleveland, Denver and Seattle, had higher annual price growth in December than in November.
“The softness in housing is despite favorable conditions elsewhere in the economy: strong job growth, a declining unemployment rate, continued low interest rates and positive consumer confidence,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in the report.
