Home prices continue to accelerate, no shock there. The Case-Shiller Home Price Index, tracking changes in residential real estate values, showed the National Index of all nine U.S. Census divisions reported a 6.2% annual gain in October. Tampa, Dallas, and New York saw the greatest changes from September while Seattle, Las Vegas, and San Diego saw the greatest annual gains.
New Home Sales, measuring signed contracts on new home sales, for November hit the highest level in over a decade. Sales were up 17.5%, much stronger than the expected 5% decline. Now there’s a welcomed surprise.