Case-Shiller: Home Prices Fall Short of Market Expectations

grades-two-300x198Lower home price increases are not a bad thing at al. It is an indication for a more sustainable growth market . For a more detailed look at this subject – please read the article below.

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Annual home price gains pulled back sharply in April, falling short of market expectations, a report released Tuesday shows.

In its latest S&P/Case-Shiller Home Price Indices report, S&P Dow Jones Indices recorded an annual price increase of 10.8 percent among both the 10- and 20-city composites. Those figures compare to year-over-year increases of 12.6 percent and 12.4 percent, respectively.

A consensus of economists surveyed by Econoday called for a gain of 11.4 percent in the 20-city index.

Of the 20 cities tracked, 19 posted lower annual appreciation in April than in March, S&P Dow Jones reported, with only Boston coming out ahead.

“Last year some Sunbelt cities were seeing year-over-year numbers close to 30 percent, now all are below 20 percent: Las Vegas (18.8 percent), Los Angeles (14.0 percent), Phoenix (9.8 percent), San Diego (15.3 percent), and San Francisco (18.2 percent),” said David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “Other cities around the nation are also experiencing slower price increases.”

Monthly numbers looked slightly more encouraging: In April, the 10- and 20-city composites posted respective increases of 1.0 percent and 1.1 percent, accelerating over March. Out of the 20 cities surveyed, all reported month-over-month appreciation.

To read the complete article – please use the link below.

Home Prices Fall Short

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