Home Prices Tick Up in November
WASHINGTON (AP) — U.S. home prices barely rose in November from the previous month and year-over-year gains slowed, reflecting declines in sales in the fall.
Real estate data provider CoreLogic says prices increased just 0.1 percent in November from October. That’s down slightly from October and far below August’s 0.9 percent gain.
The figures aren’t adjusted for seasonal patterns, such as cold winter weather that typically slows sales. Home prices have risen at a healthy 11.8 percent from a year ago, CoreLogic says. But that’s the smallest yearly gain since March.
Rising home prices and higher mortgage rates held back sales at the end of last year. Existing home sales have fallen from September through November.
Most economists expect sales and prices to rise in 2014, but more slowly than last year.
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