Case-Shiller 20-city home price index was up 2.5% year-on-year in January.
The numbers: U.S. home prices fell in January as buyers are finding it hard to stomach high mortgage rates and home prices.
The S&P CoreLogic Case-Shiller 20-city house price index fell 0.4% in January, for the seventh month in a row. All numbers are seasonally adjusted. Key details: Miami, Tampa and Atlanta reported the highest year-over-year gains among the 20 cities in January. Big picture: Home buyers are grappling with not only high mortgage rates but also low inventory. Home sellers are reducing prices or offering concessions to lure buyers. As sellers adjust prices to attract buyers, the drop in home price growth is showing up in the Case-Shiller figures.
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