Home prices ticked up in October, but the pace of growth remains slow

A recent Marketplace story examines the cooling U.S. housing market, reporting that while home prices rose slightly in October, the 1.4% annual growth marks the weakest performance since mid-2023. The data reveals a sharp regional divide—with price appreciation holding steady in the Northeast and Midwest, while the Sun Belt (in particular, Florida) faces downward pressure due to rising supply—as inflation-adjusted values dip overall.

Penn IUR Co-Director and Wharton professor Susan Wachter weighs in:

Buyers simply can't afford these price levels, particularly given high mortgage rates. So there's kind of a buyer strike in many markets.