US house prices jump 6.6% annually in November 2023

By Ovunc Kutlu

ISTANBUL (AA) – US house prices jumped 6.6% annually in November 2023, compared to the same period of last year, according to the Federal Housing Finance Agency (FHFA) on Tuesday.

The figure showed an acceleration from the 6.3% year-on-year gain recorded in October 2023.

The house price index, which reflects the average change of house prices across the nation, monthly rose 0.3% in November from the previous month. The figure followed a 0.3% monthly increase in October.

"U.S. house prices continued to appreciate in November, with year-over-year growth slightly above the historical average," said Dr. Nataliya Polkovnichenko, supervisory economist at the FHFA’s Division of Research and Statistics.

"All nine census divisions experienced positive price appreciation over the last 12 months, with five census divisions exhibiting deceleration compared to the price appreciation observed last year," she added.