US Home Prices Fall for First Time in 10 Years as Boom Goes Cold

Say goodbye to the housing bull run. US home prices -- for the first time in a decade -- are falling.

A national measure of prices in 20 large cities fell 0.44% in July, the first drop since March 2012, the S&P CoreLogic Case-Shiller index showed Tuesday. The last real estate crash ended in 2012, ushering in 10 years of price gains, capped off by the two-year pandemic buying frenzy.

But the Federal Reserve has put a swift end to the party as it fights to curb inflation. Mortgage rates this year doubled, pricing out many buyers and causing ...