Home Prices increased 3.8% year-over-year in January, down from a 5.6% annual gain recorded in December, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
It’s the seventh consecutive month of falling home prices. The 10-City Composite annual increase was 2.5% (down from 4.4%), and the 20-City Composite was 2.5% (down from 4.6%).
“January’s market weakness was broadly based,” stated Craig Lazzara, managing director at S&P DJI. “Before seasonal adjustment, 19 cities registered a decline.”
Among the 20 cities, Miami, Tampa and Atlanta recorded the highest year-over-year home price gains, increasing 13.8%, 10.5% and 8.4%, respectively.
The full report can be found here.
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