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1/25, 3:02 PM (Source: TeleTrader)
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US house prices rise 18.8% in November - S&P/Case-Shiller

House prices in the United States increased 18.8% in November on a yearly basis, S&P CoreLogic Case-Shiller Indices revealed in a report on Tuesday. The 10-City Composite annual increase came in at 16.8%, while the 20- City Composite posted an 18.3% year-over-year gain.

Among the 20 cities included in the report, Phoenix led the way with a 32.2% rise, followed by Tampa with a 29.% increase and Miami, whose prices were up 26.6%. "More data will be required to understand whether this demand surge represents an acceleration of purchases that would have occurred over the next several years or reflects a more permanent secular change. In the short term, meanwhile, we should soon begin to see the impact of increasing mortgage rates on home prices," the report explained.

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