Real Estate
US Housing Prices Fall for First Time Since 2012
- Pandemic frenzy is hitting the skids as mortgage rates climb
- Index of 20 cities posts first monthly decline since 2012
This article is for subscribers only.
Say goodbye to the housing bull run. US home prices -- for the first time in a decade -- are falling.
A national measure of prices in 20 large cities fell 0.44% in July, the first drop since March 2012, the S&P CoreLogic Case-Shiller index showed Tuesday. The last real estate crash ended in 2012, ushering in 10 years of price gains, capped off by the two-year pandemic buying frenzy.