US house prices rise as expected in December
By Alexander Bueso
Date: Tuesday 27 Feb 2024
(Sharecast News) - US house price inflation picked up at the end of 2023, pushing prices further into record territory.
In non-seasonally adjusted terms, the S&P CoreLogic Case-Shiller U.S. National Home Price Index accelerated to a year-on-year pace of 5.5% in December, after rising by 5.0% during the month before.
December's gain marked the seventh consecutive record reading for prices, S&P said.
A sub-index for prices in the 10 largest cities meanwhile increased from 6.3% to 7.0% and that for the 20 largest cities from 5.4% to 6.1% (consensus: 6.0%).
Upon seasonal adjustment, the 20 and 10-city composite price indices were both up by 0.2% month-on-month.
However, higher financing costs saw 15 of the markets register price declines during the fourth quarter when compared with September.
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