Home prices had a 9.2% annual gain in October, down from a 10.7% gain in September, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. It was the fourth consecutive month of declining home prices in the U.S.
The 10-City Composite recorded an 8.0% gain (down from 9.6%), and the 20-City Composite reported an 8.6% gain (down from 10.4%).
“These declines, of course, came after very strong price increases in late 2021 and the first half of 2022,” S&P spokesperson Craig Lazzara said in a statement. “Despite its recent weakness, on a year-over-year basis the National Composite gained 9.2%, which is in the top quintile of historical performance levels.”
Miami, Tampa and Charlotte had the highest year-over-year home price gains among the 20 cities, recording increases of 21%, 20.5% and 15%, respectively.
