U.S. HOME PRICES SLOWED IN AUGUST AT THE FASTEST PACE ON RECORD
The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 13.0% in the year that ended in August, down from 15.6% in the previous month.
The 2.6% decline in August from July is the the largest deceleration in the history of the index.
The 20-City Composite posted a 13.1% year-over-year gain, down from 16.0% in the previous month.
The 10-City Composite posted a 12.1% year-over-year gain, down from 14.9% in the previous month.
Miami reported the highest gains among the 20 cities in August with a 28.6% year-over-year price increase, followed by Tampa with a 28.0% increase, and Charlotte with a 21.3% increase.
All 20 cities reported lower price increases in the year ending August 2022 versus the year ending July 2022.
The Right Facts will continue to monitor home prices.