The latest S&P CoreLogic Case-Shiller Home Price Index is out, and while headlines highlight a 3.9% annual gain, the real story is that home prices are continuing to cool down.
Here’s what the data shows:
Case-Shiller U.S. National Composite Index:
+3.9% year-over-year
-0.15% month-over-month decline
-0.48% over the last 3 months
20-City Composite Index:
+4.5% year-over-year
-0.13% month-over-month decline
-0.45% over the last 3 months
10-City Composite Index:
+4.9% year-over-year
-0.04% month-over-month decline
-0.12% over the last 3 months
The bottom line? While prices remain higher than last year, the month-to-month and quarterly declines point to a continuing cooling trend.
What Does This Mean for You?
For Buyers: If high prices are giving you sticker shock, now’s the time to stay flexible. With prices softening, you may find better deals by expanding your search to different neighborhoods, smaller homes, or properties needing some updates. There’s more room to negotiate than we’ve seen in recent years.
For Sellers: Even though prices are still up year-over-year, buyers are becoming more selective. Work with a knowledgeable agent to ensure your pricing is dialed in. In a cooling market, strategic pricing is key to attracting serious buyers.
Wondering how this market shift affects your plans?
Contact us to explore available homes or learn about LOCAL market insights!
Whether you’re buying or selling your home, we're here to help every step of the way. Feel free to reach out to us directly with any questions on 843-900-0155 or by email at info@alandonald.com — we're just a call or a message away.
