The November S&P Case-Shiller (SPCS) data published today showed home prices rising on a seasonally-adjusted monthly basis, with month-over-month rises of 0.9 percent for all three headline indices. The December Case-Shiller forecast predicts similar, if slightly slower, monthly appreciation going forward (seasonally adjusted).

The national index is expected to gain another 0.7 percent in December from November. We expect the 10-City Index to grow 5.4 percent year-over-year, and the 20-City Index to grow 5.9 percent over the same period.  The national Index looks set to end 2015 up 5.3 percent year-over-year.

All SPCS forecasts are shown in the table below. These forecasts are based on today’s November SPCS data release and the December 2015 Zillow Home Value Index (ZHVI), released January 22. The SPCS Composite Home Price Indices for December will not be officially released until Tuesday, February 23.