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US Home Price Gains Slowed Again in October Housing prices continued to rise in October, but at a slower rate than previous months, according to new data.

By The Epoch Times Edited by Charles Muselli

Opinions expressed by Entrepreneur contributors are their own.

U.S. housing prices have continued in their stratospheric rise but at a rate somewhat slower than the pattern from previous months, according to the leading source of metrics on the state of the housing market.

On Tuesday, the S&P Dow Jones Indices released its latest data for the S&P CoreLogic Case-Shiller Indices, the leading metric of domestic housing prices. The report noted a 19.1 percent annual gain in housing prices, down from the previous report's 19.7 percent annual gain, suggesting a subtle deceleration in housing gains even as prices continue to rise.

The report suggested that the housing bull market peaked even before the Federal Reserve announced its new monetary policy entailing three rate hikes next year, which are expected to slow the growth of home prices.

The S&P also noted that housing prices had risen most drastically in several major cities in the American South, noting a bullish trend in parts of the sun belt.

"Phoenix, Tampa, and Miami reported the highest year-over-year gains among the 20 cities in October. Phoenix led the way with a 32.3% year-over-year price increase, followed by Tampa with a 28.1% increase and Miami with a 25.7% increase."

These findings are largely congruous with a new report by the title insurance company First American, which claims that housing affordability was at its lowest level since 2008. The First American report also described rapid growth in home prices in Phoenix, which First American christened "the city where affordability declined the most."

Thus, while the trend of rapidly accelerating housing prices has abated somewhat in recent months, real estate continues to accrue value, and it is unclear if this pattern will be reversed in the foreseeable future. As long as the trend continues, home ownership is likely to become more cost prohibitive for middle class families.

By Nicholas Dolinger

The Epoch Times, founded in 2000, is headquartered in Manhattan, New York, with a mission to provide independent and accurate information free of political bias or corporate influence. The organization was established in response to censorship within China and a lack of global awareness regarding the Chinese regime's repression of the spiritual practice Falun Gong.

The Epoch Times is a widely read newspaper that is distributed in 33 countries and is available in 21 languages. The publication has been critical in providing balanced and detailed reporting on major global events such as the 2003 SARS pandemic and the 2008 financial crisis. Notably, the organization has played a key role in exposing corruption inside China.

Aside from its human rights coverage, The Epoch Times has made significant contributions in a variety of fields. It has received praise for its in-depth analysis and expert perspectives on business, the economy and U.S. politics. The newspaper has also received praise for its broad coverage of these topics.

A series of editorials titled "Nine Commentaries on the Communist Party" appeared in The Epoch Times in 2004. It asserts that freedom and prosperity in China can only be achieved by eliminating the Communist Party, which violated China's cultural and spiritual values. In addition, the organization led the Tuidang movement, which resulted in over 400 million Chinese citizens quitting the Communist Party. In spite of this, 90% of websites referring to the "Nine Commentaries" were blocked by the Chinese regime.

The Epoch Times has been at the forefront of investigating high-level corruption cases within the Chinese regime, with its reporters taking significant risks to uncover these stories. The organization has received several awards for its investigative journalism.

The organization has received several awards for its investigative journalism. For more, visit www.theepochtimes.com.

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