US house price growth outpaces economists' forecasts in November

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The Federal Housing Finance Agency's national House Price Index notched up a month-on-month rise of 1.0%, which pushed the year-on-year rate of increase to 11.0% (consensus: 10.4%).

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In parallel, the Standard&Poor's Case-Shiller home price index for America's 20 largest cities jumped by 1.4% on the month and by 9.1% on the year.

Commenting on the latter, economists at Barclays Research highlighted the fact that nearly all 20 cities registered higher prices.

The two surveys showed "strong momentum" in prices and activity, underpinning their projections for solid residential investment growth in 2020 and 2021.