HOME PRICES DECELERATED IN SEPTEMBER, STILL UP 19.5% IN LAST YEAR
Home-price growth slowed slightly in September as sky-high prices deterred some buyers.
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 19.5% in the year that ended in September, down from 19.8% in the previous month.
The 20-City Composite posted a 19.1% year-over-year gain, down from 19.6% in the previous month.
Phoenix reported the highest gains among the 20 cities in September with a 33.1% year-over-year price increase, followed by Tampa with a 27.7% increase and Miami with a 25.2% increase.
The median existing-home sales price in October rose 13.1% from a year earlier to $353,900, the National Association of Realtors said earlier this month.
While the number of home sales rose in October, the proportion of first-time buyers fell to 29%, down from 32% a year earlier, according to NAR.
The Right Facts will continue to monitor home prices.