Homes.com Report: National home price appreciation strengthens in November

Core Insights - Homes.com released a report analyzing home price trends in November, indicating moderate home price appreciation with a nationwide median increase of 2.4% year-over-year, reaching $385,000 [2][3] Market Trends - Homeownership affordability has slightly improved due to income growth and a decline in mortgage interest rates by approximately 0.7 percentage points since late May [3] - The inventory of homes for sale increased by 17.9% year-over-year, marking the highest November level since 2015, which suggests a better balance between supply and demand [3] Regional Performance - The Midwest region outperformed other areas, with notable price increases in Cleveland (11.6%), Cincinnati (10.0%), Pittsburgh (8.7%), and Saint Louis (7.5%) [4] - Despite some markets experiencing price declines, such as Jacksonville, Florida with a 4.1% drop, nearly 65% of the 1,000 markets tracked by Homes.com showed price appreciation over the past year [4]