U.S. home prices see record slowdown in August

Home price growth cooled at a record pace in August, with prices up 13% year over year, according to the latest Case-Shiller index.

Video transcript

DAVE BRIGGS: The latest number is very much in the eye of the beholder category. Home price growth cooled at a record pace. But again, it's still growth. Prices up 13% in August from the year prior. That's according to today's Case-Shiller Index. A much smaller jump than the 15.6% growth in July and 18% jump in June. Nonetheless, the drop between July and August was the largest since, at least, 1987, when they began tracking that data. The biggest increases, Miami and Tampa, Florida, both up 28 plus percent. And Charlotte, North Carolina up 21%. Price growth, as you might imagine, by those numbers, strongest in the Southeast.