Home prices

A measure of prices in 20 large U.S. cities in August fell 1.3% on a month-over-month basis, the most since March 2009, according to the S&P CoreLogic Case-Shiller index.

Close to 60,000 home-purchase agreements were canceled in September

Quarterly numbers also show the smallest gain in appreciation since 2011, with values decreasing on an unadjusted basis, according to Fannie Mae.

The high interest rate environment is causing repeat buyers to pull back from the market, creating ample space for entry borrowers to purchase a home.

The West Coast and across the Rocky Mountain region are the most vulnerable to price declines in the coming months as both sellers and buyers readjust their expectations.

The number of sellers discounting their original listing grew by over 83% year over year, according to HouseCanary.

Buyer interest waned as mortgage rates increased in the same month this year, CoreLogic found

Sales of co-ops and condos dropped 3.7% in the third quarter from the previous three months and more than 18% from a year earlier, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Tuesday.

Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, Black Knight Inc. said in a report Monday.

The tempering of growth is a result of mortgage rates jumping and inflation, a report found.