Tuesday, March 25, 2014

Home Price Appreciation Slowed in January

The pace at which home prices are rising slowed slightly in January according to the Case-Shiller index. The 20-city composite index indicated that prices in January are 13.2% above year-ago levels, slower than the 13.4% seen in December. Overall price levels were little changed over the month of January, with the 20-city composite down less than 0.1% from the month prior. Price appreciation may have been weak in January as cold weather depressed demand.

Thirteen of the twenty metropolitan areas saw home prices decline from the previous month in January. Despite the declines, every metropolitan area has seen price increases over the past year. Chicago saw the steepest declines in January, with prices falling 1.2% over the month. Las Vegas continues to drive gains, with prices rising 1.4% over the month and 25% from a year ago, as it recovers from the hard hit it took during the recession.

Read the S&P Release.

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