Reflecting the cold weather, U.S. home prices ticked down 0.1% in January, a third month of declines, with 12 of 20 tracked cities posting drops, according to S&P/Case-Shiller's 20-city composite index released Tuesday. After seasonal adjustments, home prices in January rose 0.8%. Meanwhile, longer-term trends show that price growth is slowing down. On a year-over-year basis, home prices rose 13.2% in January, down from 13.4% in December and a recent peak of 13.7% in November. "Although most analysts do not expect the same rapid increases we saw last year, the consensus is for moderating gains," David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. Including January, prices remained about 20% below a 2006 peak.
Source: Marketwatch
Source: Marketwatch
