Annual U.S. home price growth continued to relax in November for the seventh straight month.
Annual home price growth dipped to the lowest level in two years in November 2022.
U.S. home prices were up by 10.1% year over year in October, about half the annual growth recorded this spring.
Home prices grew by 10.6% year over year in September, marking the sixth consecutive month of annual declines.
U.S. home price growth continued to relax on a year-over-year basis in September, posting an 11.4% increase.
In August, the CoreLogic S&P Case-Shiller Index posted a 13% year-over-year increase, down from a 15.6% gain in July, marking the fifth straight month of decelerating annual home price appreciation.
Home prices nationwide, including distressed sales, increased by 13.5% in August 2022 on an annual basis.
The surge in mortgage rates has brought the housing market to an impasse. Many buyers moved to the sidelines as the cost of homeownership became prohibitively high, while sellers were unwilling to give up locked-in record-low interest rates and expectations of peak sales prices.
Home prices nationwide, including distressed sales, increased year over year by 15.8% in July 2022 compared with July 2021
Housing market activity slowed considerably over the summer, leading to widespread deceleration in home price growth and rising concerns of a real estate downturn.
Home prices nationwide, including distressed sales, increased year over year by 18.3% in June 2022 compared with June 2021