Florida and Washington D.C. experienced the biggest September home price drops in the country compared to a year earlier, according to a new study by property intelligence platform Cotality.

Why It Matters

The vertiginous home price growth that has characterized the pandemic years has subsided this year, as inventory has grown across the country due to a fall in demand linked to higher housing costs, including rising home prices, mortgage rates, property taxes, and home insurance premiums.

But some of the markets which became particularly overheated during the pandemic home-buying frenzy, such as Florida, are now cooling down faster than the rest of the country.

What To Know

Nationwide, home prices were only 1.2 percent higher in September than a year earlier, according to Cotality—a

See Full Page