Home Price Gains Lag Inflation Amid High Rates

U.S. home-price growth cooled in August, rising 1.5% year over year versus 1.6% in July, the Case‑Shiller index shows, trailing 3% inflation and marking a fourth straight month of real equity erosion. Nearly all metros fell month to month except Chicago. Stubbornly high mortgage rates—hovering above 6.5% over summer—dampened demand despite slight declines to 6.19% now. New York led annual gains; Tampa, Phoenix and Miami posted drops, with broader weakness in Western cities. An FHFA gauge rose 2.3% annually and 0.4% monthly, hinting at tentative stabilization.