Home prices measured year-over-year slipped for the first time in months, according to the S&P CoreLogic Case-Shiller Indices for April, an indication that growth is slowing.
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported a 20.4% annual gain in April, down from 20.6% in the previous month.
This showed "initial (although inconsistent) signs of a deceleration in the growth rate of US home prices," Craig J. Lazzara, managing director at S&P DJI, said in a prepared statement, adding "a more-challenging macroeconomic environment may not support extraordinary home price growth for much longer."
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