The pace of home price growth in the United States continued to decelerate in May, marking the smallest annual increase since July 2023. As per the S&P CoreLogic Case-Shiller data, the national home price index rose by 2.3% year-over-year in May. High home prices, coupled with elevated mortgage interest rates, have significantly increased the financial burden on homebuyers. This has fostered a widespread sentiment of caution among potential buyers, contributing to a slowdown in housing market sales.
