NEW YORK CITY—Three cities west of the Mississippi have reachednew all-time highs for home prices, S&P Dow JonesIndices said Tuesday. Dallas, Denver and Portland, ORreached new peaks as home prices in all 20 cities measured by theS&P/Case-Shiller Home Price Indices increasedthis past November after seasonal adjustment. The 5.3% annualincrease in the US National Home Price Index was the highest sinceJuly 2014.
The year-over-year champion at 11.1% wasPortland, OR, which also has been a Y-O-Y leader in apartmentrents. 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 gainsfor several months running.
The largest Y-O-Y increase compared to October2015 was registered by Detroit, which saw a 6.3% annual increase inNovember compared to 5.1% the month before. Fourteen out of 20cities reported greater Y-O-Y increases in November than they didin October, according to S&P Dow Jones Indices.
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