U.S. home prices rise above expectations in November

U.S. home prices continue to keep a stable momentum in November. The S&P CoreLogic Case-Shiller 20-city Home Price Index was up 0.75 percent sequentially, coming in above consensus expectations of 0.60 percent. The annual pace of price appreciation rose to 6.4 percent and the three-month annualized growth rebounded to 10.2 percent.

“We believe the tight inventory situation, especially among existing units, is one of the factors supporting home price appreciation”, stated Barclays.

Delving into details, all 20 cities surveyed in the report recorded rises in home prices on the month, which hints at strong momentum. Overall, the annual rate of home price appreciation has remained stable in the 5 percent to 6 percent range seen in the past year and is consistent with the view of a moderate rebound in the housing sector in 2018, said Barclays.

At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 36.2351. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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