<\/p>\n
Homes in Hercules, California.<\/p>\n
(Bloomberg) — Home prices gained the least in over two years, slowing for the seventh straight month in August as buyers gained leverage in negotiations and inventory grew.<\/p>\n
Most Read from Bloomberg<\/p>\n<\/p>\n
A national measure of prices rose 1.5% from a year earlier, according to data from S&P Cotality Case-Shiller. It was the smallest gain since mid-2023 and followed a 1.6% increase in July.<\/p>\n
The easing of price growth is good news for buyers after a prolonged affordability squeeze caused by soaring prices and high mortgage rates. The index measures a three-month period ending in August, when mortgage rates were beginning to drop from near 7% and available listings were growing.<\/p>\n
Among 20 cities, New York again led the S&P Cotality Case-Shiller index, with a 6.1% annual gain in prices. Following were Chicago and Cleveland with increases of 5.9% and 4.7%, respectively.<\/p>\n
<\/p>\n
Prices in Tampa fell 3.3%, the lowest of the 20 cities measured. Prices in Miami dropped 1.7%.<\/p>\n
\u201cLooking ahead, the housing market appears to be finding a new equilibrium after the pandemic boom,\u201d Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, said in a statement. \u201cWith price growth running at half the rate of inflation and several major markets in decline, the rapid appreciation of recent years has clearly ended.\u201d<\/p>\n
–With assistance from Phil Kuntz.<\/p>\n
(Updates with chart of price changes. A previous version corrected the month named in headline.)<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"Homes in Hercules, California. (Bloomberg) — Home prices gained the least in over two years, slowing for the…\n","protected":false},"author":2,"featured_media":256844,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[7904,28,5412,139096,139095],"class_list":["post-256843","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bloomberg","tag-business","tag-mortgage-rates","tag-price-growth","tag-sp-cotality-case-shiller"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/256843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=256843"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/256843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/256844"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=256843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=256843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=256843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}