April Sees First Annual Drop in U.S. Home Prices Since 2012

US home prices have experienced their first annual decline since 2012 in April, according to the S&P CoreLogic Case-Shiller Index. The index showed a 3.6% annual decline in home prices across the US, with all 20 cities tracked by the index experiencing a slowdown in price growth. The housing market has been hit hard by the Covid-19 pandemic, with unemployment and economic uncertainty leading to a decrease in demand for homes.