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U.S. Home Price Growth Continues Downward Trend
Home price gains decelerated across the U.S. in August, according to the S&P CoreLogic Case-Shiller indices released Tuesday. The National Home Price NSA Index recorded a 13% annual gain for the month, down from 15.6% in July. The 10-City and 20-City composite indices also reflected smaller annual gains.
“The forceful deceleration in U.S. housing prices that we noted a month ago continued in our report for August 2022,” said Craig J. Lazzara, managing director at S&P Dow Jones Indices. “These data show clearly that the growth rate of housing prices peaked in the spring of 2022 and has been declining ever since.”
Miami, Tampa and Charlotte reported the highest year-over-year gains among the 20 cities in the composite index for August. All 20 cities reported lower price increases in the year ending August 2022 versus the year ending July 2022, said S&P Dow Jones.
- ◦Economy
