Home Price Increases Continue To Shrink

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Home prices are still increasing but at a slightly slower pace than before, according to the latest results of the S&P/Case-Shiller Home Price Indices. Considered the leading measure of home prices, S&P’s indexes track home prices on a monthly and yearly basis. The most recent results show home price increases continuing but at nearly the same pace as they were on last month’s report. For example, the U.S. National Home Price Index, which covers all nine census divisions, recorded a 4.5 percent annual gain in January. In December, the same index found a 4.6 percent annual gain. Month-over-month results show a similar pattern, with only a slight difference between January’s results and the previous month. In fact, a closer look at the numbers reveals that, over the past five months, price increases have stayed fairly flat, experiencing only minor declines from one month to the next. Still, some areas of the country are seeing larger increases than others. David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said home price increases are stronger in the West and Southwest, with increases larger than the national index in California, the Pacific Northwest, and Las Vegas. On the other hand, cities in the Midwest and Northeast are showing increases weaker than the national average, according to Blitzer. More here.

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