RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Home Prices ‘Recovered,’ Up 5.6 Percent in November

Home Latest News
February 2, 2017
Reading Time: 2 mins read
Home Prices ‘Recovered,’ Up 5.6 Percent in November

Drawing real estate market.

Home prices continued to trend up in November 2016, increasing 5.6 percent annually and 5.5 percent from October, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The ongoing upward trajectory, says S&P Dow Jones Indices Index Committee Chairman and Managing Director David M. Blitzer, indicates prices have recovered since the recession.

“With the S&P CoreLogic Case-Shiller National Home Price Index rising at about 5.5 percent annual rate over the last two-and-a-half years and having reached a new all-time high recently, one can argue that housing has recovered from the boom-bust cycle that began a dozen years ago,” said Blitzer in a statement. “The recovery has been supported by a few economic factors: low interest rates, falling unemployment, and consistent gains in per-capita disposable personal income.”

The Index’s 10-City Composite increased 4.5 percent annually in November, up from 4.3 percent in October; the 20-City Composite increased 5.3 percent annually, up from 5.1 percent in October.

Prices increased most in Denver, Portland and Seattle—three markets leading the price parade. Seattle posted a 10.4 percent increase in the Index, while Portland posted a 10.1 percent increase, and Denver, an 8.7 percent increase. Home values in Portland and Seattle dominated in 2016, with Zillow reporting Portland at 13.8 percent annual appreciation and Seattle at 12 percent annual appreciation.

“The new administration in Washington is seeking faster economic growth, increased investment in infrastructure, and changes in tax policy which could affect housing and home prices,” Blitzer said. “Mortgage rates have increased since the election and stronger economic growth could push them higher. Further gains in personal income and employment may increase the demand for housing and add to price pressures, when home prices are already rising about twice as fast as inflation.”

“The national Case-Shiller Index posted a new high in November thanks to continued low home inventory,” says Bill Banfield, vice president at Quicken Loans. “Enthusiastic buyers have pushed prices up while torpedoing affordability—especially for first-time buyers. This trend is likely to continue until home-building and -listing catches up with buyer demand.”

Demand has markedly kept up in January, typically the off-season for housing activity. Recent realtor.comĀ® data show the portal’s inventory moving 4 percent faster annually this month, and its median list price is at a record-high. Single-family construction, according to the National Association of Home Builders (NAHB), is expected to grow gradually by 10 percent in 2017.

For more information, please visit www.homeprice.spdji.com.

For the latest real estate news and trends, bookmarkĀ RISMedia.com.

Tags: Case-ShillerCoreLogicHome PricesMortgage RatesNAHBrealtor.com®S&PZillow
ShareTweetShare
Susanne Dwyer

Susanne Dwyer

Related Posts

Building Relationships, Making Clients for Life
Agents

Building Relationships, Making Clients for Life

May 21, 2022
Court Calls for NAR to Provide Sitzer/Burnett Findings to Moerhl Plaintiffs
Agents

Court Calls for NAR to Provide Sitzer/Burnett Findings to Moerhl Plaintiffs

May 20, 2022
National Rents Hit Their 14th Straight Month of Record-Highs
Agents

National Rents Hit Their 14th Straight Month of Record-Highs

May 20, 2022
Registration Open for ā€˜NAR NXT, The REALTORĀ® Experience’ – the New Name of the Annual REALTORSĀ® Conference & Expo
Agents

Registration Open for ā€˜NAR NXT, The REALTORĀ® Experience’ – the New Name of the Annual REALTORSĀ® Conference & Expo

May 20, 2022
Effie Atsaves Promoted to LeadingRE Vice President, Marketing
Agents

Effie Atsaves Promoted to LeadingRE Vice President, Marketing

May 20, 2022
Fathom Realty Adds Four Members to Its New Regional Director Position
Agents

Fathom Realty Adds Four Members to Its New Regional Director Position

May 20, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Disrupter Roundup: A Beta-Way to Improve Your Social Strategy

The Playhouse app marries the recreational habit of Zillow surfing and TikTok scrolling to create an entertaining, short-form, home-viewing experience.... Read more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • Building Relationships, Making Clients for Life
  • Court Calls for NAR to Provide Sitzer/Burnett Findings to Moerhl Plaintiffs
  • National Rents Hit Their 14th Straight Month of Record-Highs

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies

Ā© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTORĀ® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

Ā© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.