U.S. home prices rose 0.9% in March, the first gain in five months, according to S&P/Case-Shiller's 20-city composite index released Tuesday. Among 20 tracked cities, 19 saw higher home prices in March - only New York posted a drop. Meanwhile, home prices in Dallas and Denver hit fresh record highs in March. After seasonal adjustments, home prices among the 20 cities rose 1.2% in March, compared with 0.8% in February. Meanwhile, annual growth is slowing down. Year-over-year home prices were up 12.4% in March, down from 12.9% in February and a recent peak of 13.7% in November. Annual growth is cooling in some of the "boom-bust markets," such as Las Vegas, according to the report. Including March's gain, prices were about 19% below a 2006 peak.
Source: Marketwatch
Source: Marketwatch
