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Nationwide, home prices rose 18.8% in Nov., and the S&P CoreLogic Case-Shiller index finds Tampa (up 29%) and Miami (up 26.6%) in 2 of the top 3 spots.<\/span><\/span><\/p>\n<\/div>\n NEW YORK \u2013 One of the most-watched indicators of home prices, the S&P Dow Jones Indices (S&P DJI), found a slight slowdown in the national rate of home price increases \u2013 but less so in Florida. Two state metro areas, Tampa and Miami, ranked second and third for year-to-year price increases, with Phoenix topping the list.<\/span><\/span><\/p>\n \u201cFor the past several months, home prices have been rising at a very high \u2013 but decelerating \u2013 rate,\u201d says Craig J. Lazzara, Managing Director at S&P DJI. \u201cThat trend continued in November 2021.\u201d<\/span><\/span><\/p>\n Overall, the National Composite Index rose 18.8% year-to-year, but that rate is less than it was the month before (19.0%).<\/span><\/span><\/p>\n \u201cDespite this deceleration, it\u2019s important to remember that November\u2019s 18.8% gain was the sixth-highest reading in the 34 years covered by our data,\u201d says Lazzara. The top five months for price growth were the ones immediately preceding November.<\/span><\/span><\/p>\n Phoenix, Tampa and Miami reported the highest year-over-year gains among the 20-city index in November. Phoenix led the way with a 32.2% year-over-year price increase, followed by Tampa<\/strong> with a 29.0% increase and Miami<\/strong> with a 26.6% increase.<\/span><\/span><\/p>\n \u201cTampa and Miami continued in second and third place in November, narrowly edging out Las Vegas, Dallas and San Diego,\u201d says Lazzara. \u201cPrices were strongest in the South and Southeast (both up 25.0%), but every region continued to log impressive gains.\u201d<\/span><\/span><\/p>\n Prices in 19 cities are at all-time highs, and Phoenix\u2019s increase led all cities for the 30th consecutive month. <\/span><\/span><\/p>\n \u201cWe have previously suggested that the strength in the U.S. housing market is being driven in part by a change in locational preferences as households react to the COVID pandemic,\u201d says Lazzara, but it\u2019s too soon to gauge whether it\u2019s a temporary change or one that might have occurred naturally over the next several years.<\/span><\/span><\/p>\n\n