The S&P/Case Shiller composite index of 20
metropolitan areas gained 0.9 percent on a seasonally adjusted
basis. A Reuters poll of economists forecast a rise of 0.8
The 20-city composite index rose 13.7 percent year-on-year, the
largest rise since February 2006.
"Home prices continue to rise despite last May's jump in
mortgage interest rates," David M. Blitzer, chairman of the
Index Committee at S&P Dow Jones Indices, said in a statement.
"While housing will make further contributions to the economy in
2014, the pace of price gains is likely to slow during the
Despite a 0.1 percent decline on a non-seasonally adjusted basis
for the monthly gauge, the 10-city and 20-city measures posted
their best November performance since 2005.
(Reporting by Rodrigo Campos;
editing by Chizu Nomiyama)
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.