Home-price growth eased off in September as elevated prices deterred some prospective buyers.
- The S&P CoreLogic Case-Shiller National Home Price Index expanded 19.5% in the year ended in September, down from a 19.8% annual rate.
- Sales of previously owned homes are set to reach the highest level since 2006, and home prices have increased to records.
- Home-buying demand has remained robust in recent months, as real-estate agents noted that shopping activity slowed down after the academic year started.
- The Case-Shiller index posted a two-month delay. In recent weeks, mortgage rates have risen that could slow down home-price gains. The average rate on a 30-year fixed-rate mortgage was 3.1%.
The Case-Shiller 10-city index rose 17.8% over the year ended in September, compared with an 18.6% gain in August. The 20-city index grew 19.1% after an annual gain of 19.6% in August.
DXY down -0.61%, EUR USD up +0.75%Source: S&P Dow Jones Indices