- Home value appreciation slowed for the first time since January, though appreciation is still high.
- Inventory rose for the fourth month in a row, easing competition over houses for-sale.
- Rent growth also slowed, though the typical monthly U.S. rent is $200 more than this time last year.
Rapid housing cost growth cooled somewhat in August, paving the way for a still-strong but potentially more manageable housing market come fall. Inventory that continues to rise and a growing share of listed homes cutting their price are giving buyers more options and less stress.
The typical U.S. home was worth $303,288 in August, from $298,061 in July. Monthly home value appreciation has been faster than the month before in every month since January, but finally eased in August, slowing from 1.97% month-over-month growth in July to 1.75% in August. But while the slowdown is a notable change, August’s 1.75% monthly growth still…