US home prices rise 5.8% in Nov.: S&P;/Case-Shiller

Denver saw average home-resale price growth of 10.9 percent in the year ending in November, trailing only San Francisco and Portland.

Home prices recorded a 5.3% annual increase in November 2015 versus a 5.1% increase in October 2015, reported the latest S&P;/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions.

Prices essentially held flat from October, according to the S&P;/Case-Shiller Home Price Indices. Chicago, Cleveland and Washington, D.C., trailed.

"Home prices extended their gains, supported by continued low mortgage rates, tight supplies and an improving labor market", David M. Blitzer, chairman of S&P;'s index committee, said in a news release. "Like housing, automobile sales were quite strong past year".

Other sectors, such as the oil industry and exports, have been suffering, with the steep drop in oil prices and the strong US dollar.

On a seasonally adjusted monthly basis, the National Index, along with the 10-City and 20-City Composites each posted month-over-month gains of 0.9 percent. "Housing is not large enough to offset all of these weak spots", he said.

From the data collected, analysts found that 20 U.S. cities saw property values grow.

"Rental growth has slowed significantly and is expected to slow even further, giving renters a bit of breathing room and potentially easing the transition into homeownership for some", she added.

The South Florida residential market is battling global economic headwinds, but that isn't stopping housing prices in the region from steadily appreciating.

Seattle is just 3.2 percent below its July 2007 peak.