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Boston Herald
Boston Herald
28 Feb 2023
Boston Herald Wire Services


NextImg:Ticker: Home price index down; Nissan recalls 800K SUVs over key defect

Home prices in the U.S. declined for a sixth straight month, sending a key index of values down 2.7% from its peak in June.

Prices nationally fell 0.3% in December from the month before, according to seasonally adjusted data from S&P CoreLogic Case-Shiller.

Buyers pulled back from the market toward the end of 2022, slammed by mortgage rates that had more than doubled since that January. Affordability had already been stretched by prices that soared to record highs throughout the pandemic.

As the boom fizzled and sales declined, the total value of U.S. homes tumbled by $2.3 billion in the second half of the year, according to a report last week by Redfin Corp.

Nissan is recalling more than 809,000 small SUVs in the U.S. and Canada because a key problem can cause the ignition to shut off while they’re being driven.

The recall covers certain Rogues from the 2014 through 2020 model years, as well as Rogue Sports from 2017 through 2022.

Nissan says the SUVs have jackknife folding keys that may not stay fully open. If driven with the key partially folded, a driver could touch the fob, inadvertently turning off the engine.

Owners will be notified in March with an interim letter telling them not to attach anything else to the key ring. Then they’ll get another letter telling them to take their SUVs in for repairs. The automaker says owners with keys that won’t stay in the open position should contact their dealers.