Home prices in the United States continued to post double-digit growth in November, albeit at a slower pace than the previous month.
Source: S&P Dow Jones indices
XHB is down 1.89% premarket.
The S&P CoreLogic Case-Shiller US National Home Price NSA Index recorded an 18.8% growth in November, down from 19.0% in November. The level remains elevated following the record-high 19.7% jump in July.
The same pattern was seen in other indicators, as the 10-City Composite annual increase slowed to 16.8% from 17.2, while the 20-Composite cooled to 18.3% from 18.5%.
The biggest jump was seen in Phoenix with 32.2%, followed by Tampa with 29.0%, and Miami with 26.6%. Out of the 20 cities, 11 recorded higher prices during the period.
The US National Home Price NSA Index stood at 276.12 in November, the highest on record.