Sep 24, 2024 - Economy
Charted: Home price growth cools
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The pace of U.S. home prices continued to cool in July.
Between the lines: National home prices hit another all-time high in the month, but rose only 0.18% on a seasonally adjusted basis from June, according to the S&P CoreLogic Case-Shiller Index.
What they're saying: The "muted" increase "adds to the sense that the housing market is cooling amid weak buyer demand and growing supply," Capital Economics North American economist Thomas Ryan wrote today.
Yes, but: On a year-over-year basis, home prices were still up 5% in July.
What we're watching: The impact of lower mortgage rates.
