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National November Home Prices Surge To An All Time High
Home prices in November rose 6.2% as the shortage of homes for sale continued and show no sign of letting up. Prices are higher then the 2006 Home price peak.
* Home price gains are not letting up as is the supply crisis in the housing market.
* According to S&P CoreLogic Case-Shiller's most broad survey, national home prices rose 6.2%.
* In an other S&P index of our nation's 20 largest housing markets a 6.4 percent gain showed a higher gain than analysts expected.
* According to David M. Bitzer, Managing Director & Chairman of the Index Committee at S&P Dow Jones Indices, Home prices are continuing to rise 3 times faster than the rate of inflation.
* The benefit of low Mortgage interest rates contributed to the rise of November's home prices but much higher rates in the New Year will place downward pressure on this year's home prices.