Home Prices Rose at Slower Rate in September
(NEW YORK) -- U.S. home prices continued to rise in September, though at a pace slower than the summer. Prices rose 3.2% in the third quarter of 2013, and more than 11% over the last four quarters, according to an S&P/Case-Shiller Home Prices Indices report. The 11.2% increase is the strongest figure since 2006, according to David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices.
Las Vegas led in gains with a 29.1% increase, followed by San Francisco. Twelve cities posted double-digit annual returns, based on the report.
The rise is tapering, Blitzer said, and he anticipates more stable prices in the coming months.
"Part of it is seasonal, but I think behind that we're seeing a lot of the signs that we're past the rapid gain, big acceleration period and moving into more stability," he explained.
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