Home price growth slowed for the seventh consecutive month in August, rising just 1.5% year-over-year—the smallest increase in over two years, according to S&P CoreLogic Case-Shiller data.

The slowdown benefits buyers as mortgage rates ease and inventory grows, improving affordability after years of rapid price gains.

Among major cities, New York saw the largest increase at 6.1%, while Tampa and Miami experienced declines of 3.3% and 1.7%, respectively, Bloomberg has reported.

Experts say the market is reaching a new equilibrium, with price growth now running well below inflation and the pandemic-era boom coming to an end.