Overview
- Case-Shiller’s national index rose 1.5% year over year in August, the weakest since mid-2023 and the seventh straight month of slowing appreciation.
- FHFA reported single-family prices up 0.4% from July and 2.3% year over year, with July revised to flat from a previously reported decline.
- Mortgage rates have slipped to roughly 6.19% on the 30-year fixed, yet lenders and analysts report muted purchase activity.
- Existing-home supply increased, with NAR citing a 14% year-over-year rise in September inventory, improving buyer options in many markets.
- Regional trends diverged as New York, Chicago and Cleveland led gains, while Tampa, Miami, Phoenix and several Western metros posted declines or softer readings.