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Economic Report: House price growth slows to nearly two-year low as Case-Shiller makes the slowdown official

A previous version misstated the monthly change for Chicago prices.

Silvia Ascarelli / MarketWatch
We’re likely not in for a repeat of the housing crash, but more price cuts are likely to appear throughout the country.

The numbers: The S&P/Case-Shiller 20-city index was flat on a seasonally adjusted basis in September compared to August, and was 5.1% higher compared to its level a year ago, the lowest annual increase in nearly two years.

The Econoday consensus was for a 0.3% monthly increase for the 20-city index and a 5.3% yearly increase.

Tuesday’s Case-Shiller report covers the three-month period ending in September.

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