House prices in the United States increased 0.3% in November compared to the previous month, according to a report by the Federal Housing Finance Agency (FHFA) on Tuesday. House prices rose by 4.2% on a yearly basis.
Among the nine geographic divisions, house prices fell the most in the East South Central division at 0.6% and grew the most in the West North Central and New England divisions at 0.9% month-on-month. "Annual house price gains continued to moderate in November, with sales prices in all nine Census divisions exhibiting slower pace of growth than a year earlier, FHFA’s Division of Research and Statistics Deputy Director Anju Vajja said. "The slowdown in price growth is likely due to higher mortgage rates contributing to cooling demand."
