Pace of U.S. Home Price Growth Slows And Cool Down in September

The U.S. housing market continued to cool off in September, as home prices rose at an ever slower pace. Real Estate data provider, CoreLogic said prices increased 5.6% in September compared to a year ago. That's down from annual gains of 6.4% in August and 6.8% in July. Home prices had been climbing by as much as 12% annually toward the end of last year. But the acceleration out of the housing crash that triggered the Great Recession nearly seven years ago has become unsustainable. Wages have barely budged and lending standards remain relatively strict. This makes it difficult for families to pay the higher home prices. CoreLogic forecasts that the slowdown will continue, with annual home price growth slipping below 5% by September 2015.