U.S. home prices rose in October from the previous year at the fastest pace in almost eight years. But price gains slowed in most U.S. cities from September to October, suggesting the increases are leveling off.
The Standard & Poor’s/Case-Shiller 20-city home price index rose 0.2 percent from September to October, down from a 0.7 percent increase from August to September.
Monthly price gains slowed in 18 of the 20 cities tracked by the index. And prices declined in nine cities. For the year, prices are still strong, reflecting big gains earlier. They have risen 13.6 percent over the past 12 months, the fastest since February 2006.
The Case-Shiller index covers roughly half of U.S. homes. It isn’t adjusted for seasonal variations.