According to the latest data, housing prices had their best November since 2005 according to the S&P/Case-Shiller Home Price Index.
Home prices generally dip downwards in November, and while the average home price fell by a fraction of a percent (0.1% to be exactly), the chairman of the Index Committee, David Blitzer, noted that even despite the dip, "November was a good month for home prices."
The steady road to recovery
Although home prices plummeted following the financial meltdown and subsequent bursting of the housing bubble, 2013 has marked a year where home prices have rebounded significantly. Through the end of September last year, the average home price in the U.S. grew by nearly 12% since January, and prices in the major 20 cities measured in the Case-Shiller Index grew by 13.5%.
While there was wide variation in the rate of that price growth, ranging from 6% to 25%, there were still encouraging signs in all cities as home prices rose, even despite the rising mortgage rates. It is also widely anticipated that home prices will rise in 2014, just at a slower rate than what was seen in 2013.
To see which cities have watched their prices rise the most this year, as well as the national trends, check out the infographic below.
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The article 5 Cities With the Fastest Rising Home Prices originally appeared on Fool.com.
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