timberland ladies boots sale cities climb by most since July 2014
cities increased in November by the most in more than three years, underscoring a lingering scarcity of housing inventory, according to S CoreLogic Case Shiller data released Tuesday, Jan. 30.
The 20 city property values index increased 6.4% year over year after climbing 6.3% year over year in October. The national home price gauge rose 6.2% from a year ago. The seasonally adjusted 20 city index climbed 0.7% month over month.
The nationwide measure of price gains, which has been 5% or more for 16 straight months, reflects the rebound in residential real estate. While demand is getting a boost from a strong job market and low mortgage rates, supply has continued to lag, especially for previously owned dwellings.
A limited number of for sale listings has in the past few years been driving up property values faster than wage gains, crimping affordability for younger, first time buyers. That could eventually become a headwind to faster price appreciation. For now, the gains mean rising home equity for those who own properties.
“Home prices continue to rise three times faster than the rate of inflation,” said David Blitzer, chairman of the S index committee, in a statement. “Without more supply, home prices may continue to substantially outpace inflation.”