Tuesday, May 27, 2014

Home Prices Continue to Grow, Albeit More Slowly

According to the Case-Shiller index, the pace at which home prices are rising continued to slow in March. The 20-city composite index indicated that prices in March are 12.4% above year-ago levels, slower than the 13.1% seen in January and 12.9% seen in February. Overall price levels rose slightly in March, with the 20-city composite 0.9% above the month prior. Cold weather in the first two months of the year likely held demand low, depressing home price appreciation, which rebounded in March.

9 of the 10 metropolitan areas saw home prices improve from the previous month. Moreover, every metropolitan area continues to see prices above year-ago levels. New York was the only city to see a decline, with prices falling 0.3%. San Francisco has the strongest growth at 2.4%. Las Vegas continues to see the largest year-over-year growth, at 21.2%.

Read the S&P release.

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