Former Hotspots Saw Home Price Deceleration In January
Former homebuyer hotspots in the U.S. saw home prices fall in January as the market corrects.
The S&P CoreLogic Case-Shiller National Home Price NSA Index saw home prices decelerate for another month, posting a 3.8% annual gain in January, down from 5.6% in the previous month.
Craig J. Lazzara, Managing Director at S&P DJI, said the data marked the seventh straight month of YOY decreases.
West Coast hubs that saw huge migration during the pandemic saw their gains go negative YOY in January. The West overall saw prices decline by 1.5%. San Francisco clocked in a 7.6% drop YOY, the biggest by far, followed by Seattle with a 5.1% decrease.
Southern cities continued to see gains, with Miami, Tampa, and…