While the index posted its lowest year-over-year growth since 2012 in March, monthly gains suggest that home prices could heat up again.
Home price growth dipped on an annual basis for the 10th consecutive month in February.
The index continued to decline year over year in January, again posting a single-digit gain.
Home price growth continued to drop on an annual basis in the final month of 2022, with major West Coast cities seeing significant deceleration since the spring peak.
Annual U.S. home price growth continued to relax in November for the seventh straight month.
Home prices grew by 10.6% year over year in September, marking the sixth consecutive month of annual declines.
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.
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.
Housing market activity slowed considerably over the summer, leading to widespread deceleration in home price growth and rising concerns of a real estate downturn.
Signs of slowing homebuyer demand are spreading wider across markets and are reflected in slowing price appreciation.
Despite the surge in mortgage interest rates and high home prices, buyers have remained resilient and continued to seek homes, keeping the market competitive.
Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge. The S&P CoreLogic Case-Shiller Index posted a 19.8% increase in February, the second month of accelerated growth after a winter lull. This was the strongest February year-o...