US housing price slowdown continues as mortgage financing poses headwind

By Vaibhav Chakraborty and Ronamil Portes
S&P Global
January 10, 2023
Category: Finance & Economics
Region: United States

The 20-City Composite Index posted a year-over-year increase of 8.6%, compared to 10.4% in the previous month, even as housing prices continued to slow down in all 20 cities covered in the index. The 10-City Composite Index increased 8.0% year over year, weaker than the 9.6% rise seen in September 2022. Miami continued to lead the way as the biggest gainer across all 20 covered cities, with an annual home price increase of 21.0%. Tampa, Fla., was second on the list, with a 20.5% year-over-year price gain. Charlotte, N.C., took the third spot with a 15.0% increase in home prices during October. U.S. homebuilder stocks remained under pressure with the median one-year total return recording a negative 26.7% as of Jan. 4.

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