Source: GO Banking Rates —
Home prices in the United States continue to drop amid a slowdown in demand tied partly to rising mortgage rates, but homes are still less affordable now than at any time in the past 30 years. For potential buyers, it means paying close attention to their budgets before putting in an offer.
On Monday, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported an 18.0% annual gain in June. That was down from 19.9% the previous month and marked the third straight month of decelerating growth, which could point to further weakening in the U.S. housing market.
“The deceleration in U.S. housing prices that we began to observe several months ago continued in June 2022,” Craig Lazzara, managing director at S&P DJI, said in a press release. “Relative to May’s 19.9% gain (and April’s 20.6%), prices are clearly increasing at a slower rate.”
