BUSINESS DIGEST

December 27, 2018 at 12:00a.m.

Home price growth slowed in October

WASHINGTON

U.S. home price growth slowed in October, a likely consequence of higher mortgage rates having worsened affordability and causing sales to fall.

The S&P CoreLogic Case-Shiller 20-city home price index rose 5 percent from a year earlier, down from an annual gain of 5.2 percent in September, according to a Wednesday report. Home prices have dropped as would-be buyers are struggling to afford homes.

Associated Press