November 29, 2022
Home prices fell month over month. But they’re still up over last year.
That’s according to a new report released today from the S&P Corelogic Case-Shiller Index.
The report says between August and September –on average nationally — home prices dropped 0.8%, but they’re still up 10.6% between September of 2021 and September 2022.
Now there are several cities that saw big increases in home prices between 2021 and 2022.
The top three in September were…
Miami – which saw a nearly 25% increase in prices (24.6%)
Tampa – which saw a nearly 24% increase in prices (23.8-percent)
Charlotte – which saw a nearly 18% increase in home prices (17.8%)
The two worst performing cities were San Francisco which only saw a 2.3% increase year over year and Seattle with a 6.2% increase.
The report says these price drops are a result of higher mortgage costs thanks to those federal reserve interest rate hikes.
Read the report from S&P Corelogic Case-Shiller here.
