The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reports a 3.8% annual gain in November 2024, slightly up from 3.6% in October. This national figure, derived from all nine U.S. census divisions, highlights ongoing resilience in home prices despite regional disparities. The 10-City Composite Index remained steady at a 4.9% annual increase, while the 20-City Composite Index rose to 4.3% from October's 4.2%. The figures reflect a consistent housing market supported by higher gains in key cities, particularly in the Northeast and Midwest, according to S&P Dow Jones Indices.
New York led the 20 major cities for the seventh consecutive month, with a 7.3% year-over-year gain. Chicago followed at 6.2%, and Washington, D.C., recorded 5.9%. At the other end of the spectrum, Tampa registered a 0.4% annual decline, the first for any city in over a year. Regionally, the Northeast posted the highest growth, averaging a 6.1% increase.
Month-over-month data revealed mixed trends. Without seasonal adjustments, the national index dropped by 0.1%, while the 20-City Composite decreased 0.1%, and the 10-City Composite remained unchanged. Seasonally adjusted figures, however, indicated a 0.4% rise across all three indices, showing the market's seasonal variations.
