According to a New Report, U.S. Home Prices Rose Again Last Month

According to a new report, home prices in the U.S. rose again last month. Prices increased by 0.5% in November compared to October, marking the third consecutive month of this increase. On an annual basis, prices rose by 5.7%, representing the smallest year-over-year increase since October 2023. Redfin expects similar increases in the coming year. Senior Economist Sheharyar Bokhari stated, "Rising mortgage rates will cause many homeowners to hold on to their homes and the locked-in low rates. This means there will be enough buyers competing for a relatively small number of homes, leading to a steady rise in prices."