U.S. home prices slid in July from June, the first monthly decline in years and the latest sign that higher mortgage rates are starting to weigh on home prices in many of the country’s biggest markets.
The S&P CoreLogic Case-Shiller National Home Price Index, which measures the average change in home prices across the nation, fell 0.3% in July from June, the first month-over-month decline since January 2019. On a seasonally adjusted basis, the national index fell 0.2%. That was the first monthly decline in more than a decade by this measure.
