December 27, 2022
The average of all US home prices decreased in the month of October for the fourth straight month according to the S&P Corelogic Case-Shiller Index. The report found home prices are down 0.5% from September. The prices are still 9.2% higher than October 2021. The month over month decline is attributed to the significant recent increases in interest rates by the Federal Reserve.
Prices fell most: Las Vegas (-1.8%) & Phoenix (-1.6)
Prices were highest: Miami (+21%) & Tampa (+20.5%)
Read the full S&P Corelogic Case-Shiller Index here.
