Market Updates
Home Price Growth Slows
Brian Turner
29 Nov, 2022
New York City
Home prices declined for the third month in a row in September, S&P CoreLogic Case Shiller National index showed today.
Higher mortgage rates played a key role in lowering price appreciation and home prices eased in September 0.8% from the previous month.
From a year ago, single-family home prices rose 10.6%, slower than 12.9% in August across the nation.
The 20-city composite index showed price increase slowed to 10.4% from 12.6% in August.
Miami, Tampa, and Charlotte reported the highest year-over-year gains among the 20 cities in September.
Miami led the way with a 24.6% year-over-year price increase, followed by Tampa in second with a 23.8% increase, and Charlotte in third with a 17.8% increase.
All 20 cities reported lower price increases in the year ending September 2022 versus the year ending August 2022.
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