Home prices are still rising, according to the latest results of the S&P Case-Shiller U.S. National Home Price Index. S&P’s index – considered among the leading measures of home price activity – has been tracking prices for nearly 30 years. The most recent release shows prices up 4.2 percent year-over-year. But while prices continue to increase, the rate of increase has slowed. For example, the previous month’s report showed prices up 4.8 percent from year-before levels. In other words, prices continue to rise but at an ever slower pace. Brian D. Luke, S&P’s CFA, head of commodities, says prices are decelerating. “Home price growth is beginning to show signs of strain, recording the slowest annual gain since mortgage rates peaked in 2023,” Luke said. “As students went back to school, home price shoppers appeared less willing to push the index higher than in the summer months. Prices continue to decelerate for the past six months, pushing appreciation rates below their long-run average of 4.8 percent.” (source)
