The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 9.2% annual gain for October, 2022. Their 10-City Composite annual increase came in at 8% and their 20-City Composite posted a 8.6% year-over-year gain. The increases in both measures continued to be down from previous months.
“October 2022 marked the fourth consecutive month of declining home prices in the U.S….As the Federal Reserve continues to move interest rates higher, mortgage financing continues to be a headwind for home prices…prices may well continue to weaken.” Said Craig J. Lazzara, Managing Director at S&P DJI.
Click here to read the full report at S&P Dow Jones Indices.