Mixed November US home price data

US home prices slipped in November but the data were a bit mixed.

"U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached over the summer of 2022," said Nataliya Polkovnichenko at the FHFA.

"While higher mortgage rates have suppressed demand, low inventories of homes for sale have helped maintain relatively flat house prices."

An alternate measure of house price growth, the 20-city S&P CoreLogic Case-Shiller index however dropped by 0.8% over the month (consensus: -0.5%).

That pushed the year-on-year rate of decline from 8.6% to 6.8%.

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