Trump has begun another trade war. Here's a timeline of how we got here
Canada's leader laments lost friendship with US in town that sheltered stranded Americans after 9/11
Chinese EV giant BYD's fourth-quarter profit leaps 73%
You're an American in another land? Prepare to talk about the why and how of Trump 2.0
Chalk talk: Star power, top teams and No. 5 seeds headline the women's March Madness Sweet 16
Purdue returns to Sweet 16 with 76-62 win over McNeese in March Madness
By Amina Niasse
NEW YORK (Reuters) - U.S. annual home prices rose at a slower rate in January and slipped on a monthly basis for the first time in 17 months, data released Tuesday showed.
Home prices grew 6.3% on a yearly basis from an upwardly revised 6.7% in December, a Federal Housing Finance Agency (FHFA) report said, marking the first annual price deceleration since last May. On a monthly basis, home prices fell for the first time since August 2022 by 0.1% in January, reversing a 0.1% gain in December.
Despite the slowdown, annual price growth remains near the historical average, said Dr. Anju Vajja deputy director at FHFA's Division of Research and Statistics.
Home price growth has persisted through two-decade-high mortgage rates, with house values appreciating throughout the Federal Reserve's interest rate hike campaign launched in 2022.
On a yearly basis, prices increased in all U.S. regions. The East North Central and Middle Atlantic regions experienced the largest price appreciations, by 8.7% and 8.6%, respectively, FHFA said.
(Reporting by Amina Niasse; Editing by Chizu Nomiyama)
