Hot Housing Prices Start To Cool Down in the United States

Hot Housing Prices Start To Cool Down in the United States

Hot Housing Prices Start To Cool Down , in the United States.

CNN reports the overheated prices of homes in the United States are now showing signs of cooling.

Per the S&P CoreLogic Case Shiller U.S. National Home Price Index in November, house prices rose by 18% year-over-year.

Despite the rise in year-over-year numbers, November's home prices decreased 19.1% from the previous month.

For the past several months, prices have continued to rise at a very high rate, but the increases have been getting smaller.

, Craig J.

Lazzara, managing director of S&P Down Jones Indices, via CNN.

Even when considering the current deceleration of housing prices, November's gain ranks sixth-highest in the U.S. National Home Price Index's history.

Phoenix, Arizona's, housing prices have led the charge during the coronavirus pandemic, increasing 32.2% annually.

Directly behind Phoenix is Tampa, Florida, where prices went up by 29%, and Miami, Florida, which experienced increases of 26.6%.

Directly behind Phoenix is Tampa, Florida, where prices went up by 29%, and Miami, Florida, which experienced increases of 26.6%.

We continue to see very strong growth at the city level, Craig J.

Lazzara, managing director of S&P Down Jones Indices, via CNN.

Experts say housing prices have been pushed to all-time highs, partly due to a lack of inventory.

Increasing home prices will continue to be the norm as long as supply is restricted.

, Bill Dallas, president of Finance of America Mortgage, via CNN