Home Price Gains Slowing Says S&P/Case-Shiller

Home prices are continuing to rise but at a slower pace according to the S&P/Case-Shiller Home Prices Indices. The S&P Dow Jones Indices are released monthly and compare annual rate gain for the 10-City and 20-City Composites. The current indice, released at the end of April, shows the rate of gain in February at 13.1 percent for the 10-City Composite and 12.9 percent for the 20-City Composite.

Thirteen cities had lower annual rates in February including the leader, Las Vegas, which posted a 23.1 percent year over year gain vs. 24.9 percent in January. The largest decline, 1.6 percent, was seen in Cleveland followed by Chicago and Minneapolis. The composites were relatively unchanged on a month over month basis.