In September growth of home prices in twenty US cities was the lowest in almost two years, Bloomberg reports. It indicates that interest of buyers is fading amid higher mortgage rates and elevated house values.

Index of home values in twenty cities in accordance with the data from S&P CoreLogic Case-Shiller gained 5,1% compared with the last year. Last month this measure was 5,5%. Average estimate of economists surveyed by Bloomberg was 5,2%. Price growth nationally was 5,5% compared with September 2017.

Report showed sixth growth slowdown in a row. Sales and construction pace weakened as well. The results of the research showed that home prices are still quite high, while mortgage rates are highest in eight years and supply of affordable housing is limited.

Meanwhile, annual growth is observed in all twenty cities leaded by Las Vegas with increase by 13,5% and San Francisco with 9,9% gain.

Price drop on monthly bases is recorded only in Seattle (-0,3%) and San Diego (-0,1%). The slowest growth is observed in New York (2,6%).