The S&P CoreLogic Case-Shiller Index for August indicates a cooling in home price growth, with a 4.2% year-over-year gain, down from 4.8% in July.
As mortgage rates dipped from approximately 7% to 6.35%, the expected surge in demand and home sales did not follow, contributing to the overall cooling of home prices.
The composite indices for 10 and 20 cities displayed slight monthly declines, indicating that even amid some year-over-year gains, the upward pressure on prices may be easing.
New York led with an 8.1% annual home price growth, while Denver experienced the slowest growth at 0.7%, highlighting significant disparities in market performance.
Collection
[
|
...
]