Home prices in the U.S. declined for a sixth straight month, sending a key index of values down 2.7% from its peak in June.
Prices nationally fell 0.3% in December from the month before, according to seasonally adjusted data from S&P CoreLogic Case-Shiller.
Buyers pulled back from the market toward the end of 2022, slammed by mortgage rates that had more than doubled since that January. Affordability had already been stretched by prices that soared to record highs throughout the pandemic. As the boom fizzled and sales declined, the total value of U.S. homes tumbled by $2.3 billion in the second half of the year, according to a report last week by Redfin Corp.
