US home prices fell for the seventh month in a row in January, even as mortgage rates eased, according to the latest S&P CoreLogic Case-Shiller US National Home Price Index, released Tuesday.
After seasonal adjustment, the National Index posted a month-over-month decrease of 0.2%.
“2023 began as 2022 had ended, with US home prices falling for the seventh consecutive month,” said Craig Lazzara, managing director at S&P DJI.
The National Home Price Index, covering all nine US census divisions, reported a 3.8% annual gain in January from the year before, but that is down from a 5.6% annual gain in the previous month.
This is a developing story and will be updated