The Case-Shiller Home Price Index – one of the most widely followed gauges of U.S. home values – showed a 0.3% monthly decline from August to September before seasonal adjustments, but a 0.2% increase after adjusting for seasonality. Nationally, prices are still 1.3% higher than a year ago, a slight dip from August’s 1.4% annual gain.
The FHFA Index, which tracks homes financed with conventional mortgages and excludes cash and jumbo purchases, reported seasonally adjusted prices were flat month-to-month. Year over year, prices were up a somewhat stronger 1.7%.
What’s the bottom line?
Home prices remain above last year’s levels, but appreciation has cooled. If mortgage rates continue tofall, buyer demand could strengthen and potentially push prices higher again.
