US home prices fell slightly in November as colder weather slowed buying, ending nine straight months of price gains.
The Standard & Poor’s/Case-Shiller 20-city home price index slipped 0.1 percent from October to November, partly reversing the previous monthly increase of 0.2 percent. But the index is not adjusted for seasonal variations, so the monthly decline partly reflects slower buying in the late fall as temperatures drop.
“November was a good month for home prices,” said David Blitzer, chairman of the S&P Dow Jones index committee. “Prices typically weaken as we move closer to the winter.”
Despite the overall decline, home values have continued to rise in many Sun Belt cities. Las Vegas, Los Angeles and Phoenix have registered 20 straight months of rising prices.
But home prices surged for much of 2013, driven by big gains earlier in the year. Prices have risen 13.7 percent over the past 12 months.
Dallas enjoyed its strongest annual gain since 2000. And Chicago home prices climbed at their strongest annual clip since December 1988. Among the cities in the index, only Detroit prices remain below their 2000 level.
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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