Home Prices Cooled Down at Fastest Pace in ‘History of the Index’
U.S. home prices decelerated at a record pace in July, despite remaining elevated compared to a year back, according to S&P Dow Jones Indices.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, registered a 15.8 percent gain in July 2022 compared with July 2021, a Sept. 27 press release states. But compared to the 18.1 percent growth in June 2022, the July number is down by 2.3 percent. Craig J. Lazzara, managing director at S&P DJI, called the 2.3 percent monthly difference the “largest deceleration in the history of the index.”…