Home Price Increases Continue On Trend

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For most of 2014, home prices have continued to go up, but at a slower and slower pace. This is a sign that the dramatic increases of the previous year are being replaced by increasing stability in home values. And, according to the most recent S&P / Case-Shiller Home Price Indices, the trend continues. Both their 10-city and 20-city indexes saw year-over-year increases decline in October compared to the month before. But despite the overall trend, home prices were still up 4.5 percent from last year and there is evidence that some cities are beginning to see home price increases accelerate again. David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said after a long period when prices rose at a slower pace each month, there are now hints that prices could end 2014 on a strong note and accelerate into 2015. As evidence, Blitzer noted that all 20 cities included in the index were experiencing weakening annual price increases just two months prior to the most recent report. Now, just 12 cities saw weaker growth, while eight saw the pace of price gains pick up. More here.

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