Led by Seattle and Las Vegas, Home Prices Accelerate in November, Case-Shiller Shows
Jim R. Bounds/Bloomberg via Getty Images The numbers: The S&P/Case-Shiller 20-city index rose a seasonally adjusted 0.7% in the three-month period ending in November compared to the same period ending in October, and was up 6.4% compared to a year before. The national index rose a seasonally adjusted 0.7% for the month, and 6.2% for the year. What happened: Both annual increases were higher than in the prior month's release. The 20-city index rose 6.3% in the three-month period ending in October, for example. Surging prices are all about limited supply of homes to buy. But there's another interesting development. The cities "that enjoyed the fastest price increases before the 2007-2009 financial crisis are again among those cities experiencing the largest gains," said David Blitzer, chair of the index committee at S&P Dow Jones Indices. Blitzer named San Diego, Los Angeles, Miami and Las Vegas. Big picture : Home prices continue to surge well ahead of inflat...