HOME PRICE GAINS CONTINUE SLOWING

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index on Tuesday reported a 4.0% annual gain in February, down from 4.2% in the previous month, continuing the months-long trend of mititgating price increases.
The 10-City Composite annual increase came in at 2.6%, down from 3.1% in the previous month. The 20-City Composite posted a 3.0% year-over-year gain, down from 3.5% in the previous month.
Las Vegas, Phoenix and Tampa reported the highest year-over-year gains among the 20 cities. In February, Las Vegas led the way with a 9.7% year-over-year price increase, followed by Phoenix with a 6.7% increase, and Tampa with a 5.4% increase.
Before seasonal adjustment, the National Index posted a month-over-month increase of 0.2% in February. The 10-City and 20-City Composites both reported 0.2% increases for the month. After seasonal adjustment, the National Index recorded a 0.3% month-over-month increase in February. The 10-City and the 20-City Composites both posted 0.2% month-over-month increases.
In February, 14 of 20 cities reported increases before seasonal adjustment, while 17 of 20 cities reported increases after seasonal adjustment.

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