After some signs of slowing home price growth, suggested by the seasonally adjusted deceleration in month-to-month gains, November monthly price growth re-accelerated again.
Re-acceleration in monthly gains, as reflected in the December S&P CoreLogic Case-Shiller Index, is consistent with continued robust demand, despite spiking home prices and higher costs of borrowing.
Furthermore, the Index indicated home buyers have not yet thrown in the towel. This is also reflected in that it remained steady after three months of slowing, and was up 18.8% year over year, about flat from the 18.8% increase the month prior.
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