The 10- and 20-City Composite S&P/Case-Shiller Home Price Indices data through March 2014 showed marginal month-over-month increases-0.8 percent and 0.9 percent, respectively. The National Index gained only 0.2 percent.
The 10- and 20-City Composite S&P/Case-Shiller Home Price Indices data through March 2014 showed marginal month-over-month increases-0.8 percent and 0.9 percent, respectively. The National Index gained only 0.2 percent.
The 10- and 20-City Composites had year-over-year increases of 12.6 percent and 12.4 percent and the National Index recorded a gain of 10.3 in March 2014. The figures represent a significant slowdown in the annual rates of gain for both the National and Composite Indices.
"Annual price increases for the two Composites have slowed in the last four months and 13 cities saw annual price changes moderate in March," said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. "The National Index also showed decelerating gains in the last quarter."
Among the markets showing considerable deceleration in price gains were leading "boom-bust" markets, including Las Vegas, Los Angeles, Phoenix, San Francisco and Tampa, Blitzer said.
Despite the slowdown, all cities had higher price gains than a year ago and, besides New York, showed higher price gains in March than in February.
