US home prices slowed in May due to high financing costs, with some regions experiencing sharp declines. This shift is attributed to the cooling housing market, which has been impacted by increased interest rates and reduced demand. The latest data indicates that homes in specific areas are now selling for lower prices, signaling a regional variation in the national trend of slowing home price growth.
Source: https://www.barrons.com/articles/home-prices-us-case-shiller-685bf810