28 June 2023
The S&P CoreLogic Case-Shiller Home Price Index for the 20 cities showed a significant year-over-year decline of 1.7%, the largest drop since 2012. Despite the spring selling season typically driving up sales volume and prices, the growth this spring was not sufficient. Prices fell further compared to the prior year, indicating a negative trend. Additionally, 10 out of the 20 metropolitan areas covered by the index experienced year-over-year price declines. The housing market in several key cities, such as Seattle and the San Francisco Bay Area, saw continuous declines for multiple months. This data highlights a challenging and declining housing market with decreasing prices in various regions.