Falling mortgage rates have created a buzz among potential buyers but rates aren’t the only market factor trending in the right direction. According to the latest release from the S&P Case-Shiller Home Price Indices, home price increases are also offering buyers a bit of a break. The numbers show prices – while still climbing – are doing so at an ever-slower pace. In fact, the numbers show the National Home Price Index up 5 percent year-over-year through the end of July, down from a 5.5 percent increase the previous month. As always, where you’re looking to buy will determine just how quickly prices are moving. “Regionally, the Northeast remains the best performing market, with New York the top performer for three months running, followed by the Midwest region,” Brian D. Luke, S&P’s CFA, says about where prices are climbing fastest. “The South reported the slowest gains regionally but includes five of the seven best performing markets since 2020.” (source)
