Home prices

The top five cities have an average median residential price per square foot of $148.

The cost of properties nationwide rose by 0.6% from July, according to the Federal Housing Finance Agency's monthly index.

The top five cities have an average median residential price per square foot of $654.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

The top five towns have an average median home value of $646,380.

Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices

But even as housing costs slowed on a quarterly basis, they still came in 5.3% higher than a year ago, according to Fannie Mae's Home Price Index.

After 139 consecutive months of rising values, a change in the pattern could slowly emerge.

The rise in the number of reductions runs against typical seasonal norms, Redfin said.

Since the start of the year, values have pushed upward at a marked pace, separate reports from the Federal Housing Finance Agency and S&P CoreLogic Case-Shiller declared.