09:00 AM EST, 01/28/2025 (MT Newswires) -- The Case-Shiller National Home Price index fell by 0.1% in November before seasonal adjustment following a 0.2% decrease in October.

National home prices were up 3.8% year-over-year, up from 3.6% in October.

The 10-city index was flat in the month, while the 20-city index was down 0.1%.

National home prices were up 0.4% month-over-month in November after seasonal adjustment, with the 10-city measure up 0.4% and the 20-city measure 0.4% higher.

"With the exception of pockets of above-trend performance, national home prices are trending below historical averages," said Brian Luke, Head of Commodities, Real & Digital Assets. "Markets in New York, Washington, D.C., and Chicago are well above norms, with New York leading the way."

The monthly home price index report from S&P CoreLogic Case-Shiller measures single-family home prices across the US with a two-month lag, broken down by city, with combined measures of the 10 and 20 largest cities and a national index. Case-Shiller reports percentage gains both from the previous month and a year earlier.

Higher home prices are inflationary and are usually negative for bonds. The possible outcome for housing-related stocks is mixed, as higher prices suggest strong demand, but prices that are accelerating too fast can also deter potential buyers.