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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
Bloomberg business news
Key Takeaways From the Sept. Consumer Confidence Report
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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.