Home prices continue decelerating across country, per new report

Source: Bankrate — 

Could housing prices finally be coming back down to earth? Home-price growth continued to decelerate for the sixth straight month in September 2022. S&P CoreLogic’s latest Case-Shiller U.S. National Home Price NSA Index, released November 29, reports that price growth dropped by 2.3 percent from August to September — from 12.9 percent to 10.6 percent.

‘Prices declined in every city’

Prices fell in every one of the top 20 U.S. cities from August to September, the report says.

“As has been the case for the past several months, our September 2022 report reflects short-term declines and medium-term deceleration in housing prices across the U.S.,” said Craig J. Lazzara, managing director at S&P DJI, in a statement. “Despite considerable regional differences, all 20 cities in our September report reflect these trends of short-term decline and medium-term deceleration. Prices declined in every city in September, with a median change of -1.2 percent. Year-over-year gains, while still well above their historical medians, peaked roughly six months ago and have decelerated since then.”