The Federal Housing Finance Agency (FHFA) released its monthly house price index for the U.S. on Tuesday. The U.S. house price index rose 0.5% on a seasonally adjusted basis in November, exceeding expectations for a 0.4% increase, after a 0.5% gain in October.

On a yearly basis, U.S. house prices climbed 5.9% in November, after a 6.1% rise in October.

"The index levels for October and November 2015 exceeded the prior peak level from March 2007," the FHFA said in its statement.