While average home prices throughout the United States are, as of January 2014, back to their mid-2004 levels, the 20-City Composite dropped 0.1 percent for the third straight month, according to data from the S&P/Case-Shiller Home Price Indices.
The 10- and 20-City Composite indices are about 20 percent lower than the prices at their peak in June/July 2006. Still, the data shows an increase of 23 percent from March 2012.
"Expectations and recent data point to continued home price gains for 2014," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. "Although most analysts do not expect the same rapid increases we saw last year, the consensus is for moderating gains. Existing home sales declined slightly in February and are at their lowest levels since July 2012."
