3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,
Price Gains Continue But At A Slower Pace
Dated: October 20 2022
Views: 299
Home prices have been increasing at an accelerated pace for years now. That’s great for homeowners but an obvious challenge for buyers, who could likely use some relief. Fortunately, they’re starting to get it. The number of homes available for sale is improving, and the added inventory should begin to correct some of the imbalance driving higher prices.
According to one recent analysis, it’s already started. The latest S&P Case-Shiller Indices – considered among the leading measures of U.S. home prices – shows price increases are slowing. S&P’s National Composite Index found home prices increased about one percent less in May than in April. But though the gains weren’t as big as the month before, they were still significant. “The market’s strength continues to be broadly based, as all 20 cities recorded double-digit price increases for the 12 months ended in May,” Craig J. Lazaara, S&P’s managing director, said. “However, at the city level, we also see evidence of deceleration. Price gains for May exceeded those for April in only four cities.” The fact that the majority of the included cities saw slower increases in May is a significant change from earlier this year when all 20 were accelerating.
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