Home prices in 20 major cities across the United States fell in September, according to data from S&P Dow Jones Indices, indicating a deceleration in the housing market.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index fell by 1 percent on a monthly basis in September (before seasonal adjustment), with the 10-City composite decreasing by 1.4 percent and the 20-City composite declining by 1.5 percent, according to the S&P Nov. 29 report. After the seasonal adjustment, the National Index posted a fall of 0.8 percent, with the 10-City and 20-City composites decreasing by 1.2 percent.
All 20 cities reported declines before and after seasonal adjustments. The September 10-City composite, though up by 9.7 percent on an annual basis, is down from the 12.1 percent yearly gain in August. Similarly, the 20-City composite, which saw a 10.4 percent annual gain, is down from the 13.1 percent gain in the previous month….