Home-price gains in the U.S. slowed in April as would-be buyers facing
A national measure of prices rose 6.3% from a year earlier, less than the 6.5% gain in March, according to data from S&P CoreLogic Case-Shiller.
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Run-ups in both prices and mortgage rates over the past couple of years
Despite the deceleration, the national measure of prices is at a record, according to S&P CoreLogic Case-Shiller data going back more than two decades.
"Heading into summer, the market is at an all-time high, once again testing its resilience against the historically more active time of the year," Brian Luke, head of commodities, real and digital assets at S&P Dow Jones Indices, said in a statement Tuesday.
Price gains in a measure of 20 cities also
Prospects may be getting rosier for buyers. The share of sellers dropping their list price was at its highest level since November 2022 and growth in asking prices has slowed, according to data from Redfin Corp. for the four weeks through June 16. Homes that need work are lingering on the market, the brokerage said, potentially offering deal opportunities for shoppers willing to spend money on repairs.