Exceeding Inflation, Home Prices Rising Swiftly

Homes are appreciating at a healthy pace, with November prices up 6.2 percent year-over-year, according to the S&P CoreLogic/Case-Shiller Indices.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index’s 10-City Composite, which is an average of 10 metros (Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington, D.C.), rose percent 6.1 year-over-year, up from 5.9 percent in October. The 20-City Composite—which is an average of the 10 metros in the 10-City Composite, plus Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix, Portland, Seattle and Tampa—rose 6.4 percent year-over-year, up from 6.3 percent in October. Month-over-month, the 10-City Composite and the 20-City Composite both rose, 0.3 percent and 0.2 percent, respectively.

According to S&P Chairman of the Index Committee and Managing Director David M. Blitzer, inflation is lagging prices severely. Demand, however, is…