Home Prices See 11th Straight Month of Gains, Jumping Over 5% Nationally and Even More in Major Metro Areas
• Home prices rose 5.5% nationally in December compared to a year ago, marking the 11th straight month of increases • The 10-city and 20-city composites that track prices in major metros saw even larger annual gains of 7% and 6.1% respectively • San Diego led with an 8.8% year-over-year price jump; Portland saw the smallest at just 0.3% • This was the first time in 2023 all 20 cities in the index reported annual price increases • Home supply is still down 34.3% from pre-pandemic levels despite recent dips in mortgage rates