NEW YORK CITY—Three cities west of the Mississippi have reached new all-time highs for home prices, S&P Dow Jones Indices said Tuesday. Dallas, Denver and Portland, OR reached new peaks as home prices in all 20 cities measured by the S&P/Case-Shiller Home Price Indices increased this past November after seasonal adjustment. The 5.3% annual increase in the US National Home Price Index was the highest since July 2014.
The year-over-year champion at 11.1% was Portland, OR, which also has been a Y-O-Y leader in apartment rents. Oregon's largest city was followed by San Francisco at 11.0% and Denver at 10.9%; all three have topped the ranks of Y-O-Y gains for several months running.
The largest Y-O-Y increase compared to October 2015 was registered by Detroit, which saw a 6.3% annual increase in November compared to 5.1% the month before. Fourteen out of 20 cities reported greater Y-O-Y increases in November than they did in October, according to S&P Dow Jones Indices.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
