Daniel Acker | Bloomberg | Getty Images
Home prices are still considerably higher than they were a year ago, when the pandemic caused a massive run on housing, but the gains are finally starting to ease up.
Home prices rose 19.5% in September year over year, down from a 19.8% annual gain in August, according to the S&P CoreLogic Case-Shiller national home price index. That is the first decrease in the annual gain since May 2020.
The 10-city composite rose 17.8% from a year ago, down from an 18.6% gain in August. The 20-city composite gained 19.1% year-over-year, down from 19.6% in the previous month.
Cities with the highest price increases were Phoenix, Tampa, and Miami. Phoenix prices were…