12 Big Cities Where Home Prices Are Sliding

Home prices are declining.

Month-over-month, home prices fell 0.15% in August according to Tuesday’s S&P/Case-Shiller report.

Additionally, the year-over-year growth rate slipped to 5.6% from 6.7%.

These are all reflective of what may be a maturing housing recovery.

But all hope isn’t lost just yet.

“September figures for housing starts, permits and sales of existing homes were all up,” the Case-Shiller report states. “Continued labour market gains, low interest rates, and slower increases in home prices could support further improvements in housing,”

Mortgage rates recently fell to a 16-month low, which may encourage more prospective buyers to pull the trigger on a home.

Still. 12 out of the 20 cities ranked by Case-Shiller saw a month-over-month decline in August.

We’ve ranked these cities in order to show which housing markets saw price drops in the last month.

Cleveland: Prices are down 0.1%

Year-over-year change: Prices up 0.8%

Tampa: Prices down 0.1%

Year-over-year change: Prices up 5.5%

New York: Prices down 0.2%

Year-over-year change: Prices up 3.1%

Boston: Prices down 0.2%

Year-over-year change: Prices up 5.0%

Washington, DC: Prices down 0.3%

Year-over-year change: Prices up 3.1%

San Francisco: Prices down 0.3%

Year-over-year change: Prices up 9.0%

San Diego: Prices down 0.3%

Year-over-year change: Prices up 6.2%

Los Angeles: Prices down 0.3%

Year-over-year change: Prices up 6.8%

Charlotte: Prices down 0.3%

Year-over-year change: Prices up 2.5%

Minneapolis: Prices down 0.6%

Year-over-year change: Prices up 3.9%

Detroit: Prices down 0.6%

Year-over-year change: Prices up 7.0%

Chicago: Prices down 1.0%

Year-over-year change: Prices up 2.9%

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