A “For Sale” sign outside of a home in Atlanta, Georgia, on Friday, Feb. 17, 2023.
Dustin Chambers | Bloomberg | Getty Images
Home prices cooled in January, up only 3.8% nationally than they were a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. That is down from 5.6% in December.
Prices have been falling for seven straight months, but the decline was a bit smaller in January. That was likely due to a brief drop in mortgage rates and a resulting jump in sales.
The 10-city composite rose 2.5% year over year, down from 4.4% in December. The 20-city composite also rose 2.5%, down from 4.6% in the previous month.
Home prices have been cooling due to…