Home prices in the U.S. soared in October, according to the latest monthly data. The S&P Case-Shiller U.S. National Home Price Index was up 5.6% in October compared to the previous year. The index measures the nine census divisions.

The S&P CoreLogic Case-Shiller 20 City Composite Home Price Index, meanwhile, gained by 5.1% in October against the same month the year before.

Robert Shiller, Yale University professor of economics and finance and the co-founder of the home price index, told BloombergTV's "Bloomberg Daybreak: Americas" that the data could be showing a "turning point."

"The numbers we're reporting today are from October, before the Trump election," Shiller said. "Everything looks different now. I don't know where we're going. The numbers that we're showing today don't look much different from recent months, but existing home sales are high, new home sales are high. There might be a Trump boom coming."

Shiller clarified that he is "wondering" about, not "forecasting," any kind of boom.