US home price growth slowed in September as buyers pulled back

[WASHINGTON] US home price growth slowed in September as economic uncertainty pushed would-be buyers to the sidelines.

Home prices rose 1.3 per cent in September from a year earlier, compared with an annual increase of 1.4 per cent in August, according to data from S&P Cotality Case-Shiller. It slowed for the eighth straight month as buyers regained leverage over sellers.

Sellers aren’t able to push prices as much they have in the past, even as inventory rises. But conditions vary by geography. In the Midwest and Northeast, price growth remains strong, while it has weakened in the South and West.

Among 20 cities, Chicago led the S&P Cotality Case-Shiller index with a 5.5 per cent annual gain in prices. Following were New York and Boston with increases of 5.2 per cent and 4.1 per cent, respectively. BLOOMBERG