S&P CoreLogic Case-Shiller Index Shows 13% Annual Home Price Gain
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 13% annual gain for August, 2022. Their 10-City Composite annual increase came in at 12.1% and their 20-City Composite posted a 13.1% year-over-year gain.
“As the Federal Reserve moves interest rates higher, mortgage financing becomes more expensive and housing becomes less affordable. Given the continuing prospects for a challenging macroeconomic environment, home prices may well continue to decelerate.” Said Craig J. Lazzara, Managing Director at S&P DJI.
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