Seattle, Las Vegas and San Francisco had the highest year-over-year annual gains in home prices in November 2017, according to the S&P Dow Jones Indices released by the S&P CoreLogic Case-Shiller Indices.
Seattle showed a 12.7 percent annual price increase, followed by Las Vegas with a 10.6 percent increase, and San Francisco with a 9.1 percent increase.
Overall home prices had a 6.2 percent annual gain in November, up slightly from the 6.1 percent annual gain in October.
“Home prices continue to rise three times faster than the rate of inflation,” says David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “The S&P CoreLogic Case-Shiller National Index year-over-year increases have been 5 percent or more for 16 months; the 20-City index has climbed at this pace for 28 months. Given slow population and income growth since the financial crisis, demand is not the primary factor in rising home prices.” He added that without more supply, home prices may continue to substantially outpace inflation.
