U.S. home price growth slowed to 3.8 percent year-on-year in January this year, from a 5.8 percent increase recorded in December 2022, an index measuring U.S. real estate values ​​showed on the Standard & Poor's/Case-Shiller (Standard & Poor's/Case-Shiller), reported CBS. 

The gauge of home prices in 20 of the largest US cities rose 2.5 percent in January, down from 4.6 percent the previous month.

In some of these cities, home prices fell on an annual basis - San Francisco (-7.6 percent), Seattle (-5.1 percent) and San Diego (-1.4 percent), but in others rising - Miami (+13.8 percent), Tampa (+10.5 percent) and Atlanta (+8.4 percent).

However, home prices in all 20 cities included in the index are down on a year-over-year basis.

The downward trend is based on higher mortgage rates on the back of interest rate hikes by the US Federal Reserve.

Biden assured again: The US banking system is stable

Average interest rates on a 30-year fixed-rate home loan have hovered in the 6 percent annualized range since last fall, though they have moved wider in recent weeks amid problems in the banking system fueled by the bankruptcy of "Silicon Valley Bank" (Silicon Valley Bank - SVB) and "Signature Bank" (Signature Bank), notes CBS, quoted by BTA.