This data further confirms the cooling of the US property market. Data released last month showed that the US home builder confidence index fell to its lowest point in more than three years.
The CoreLogic House Price Index released earlier this month also showed that the growth rate of US housing prices continued to slow down. In November, the US house price index increased by 5.1% year-on-year, which continued to fall from the 5.5% increase in October.
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