US home price gains slow for 10th straight month

[Omaha Steve]

Source: AP-Excite

By CHRISTOPHER S. RUGABER

WASHINGTON (AP) — U.S. home prices rose in September at the slowest pace in more than two years, reflecting modest sales gains and a rising number of available homes.

The Standard & Poor's/Case-Shiller 20-city home price index, released Tuesday, increased 4.9 percent in September from 12 months earlier. But that's down from 5.6 percent in August and the smallest gain since October 2012.

On a monthly basis, the 20-city index was unchanged, the first flat reading in seven months. The monthly changes aren't adjusted for seasonal factors such as colder weather, which can impact sales. Prices dropped in nine of 20 cities from August.

Home price gains have slowed this year after rapid, double-digit increases in the previous two years. Investors helped drive the strong gains by bidding up prices but have started to cut back on their purchases. Smaller price gains and low mortgage rates could make housing more affordable.

FULL story at link.



In this Wednesday, Sept. 24, 2014 photo, Mara Boccolini, a realtor associate with South Beach Estates, shows the master bathroom in a newly renovated waterfront property on the market during a viewing for brokers, in Miami Beach, Fla. Standard & Poor's releases its S&P/Case-Shiller index of home prices for September and the third quarter on Tuesday, Nov. 25, 2014. (AP Photo/Lynne Sladky)


Read more: http://apnews.excite.com/article/20141125/us--home_prices-bd9865c320.html

[geek tragedy]

1. Market is coming into balance.

Stability is a good thing.

[Treant]

2. Agreed.

At least locally, prices seem to be approaching or at just about where they really should be, not what they were during the bubble.

Slowing, in this case, is probably the rebound ending without starting another bubble. Bad for Wall Street, not bad for the Common Folk like myself (so I expect they'll work on screwing it up again shortly).

YMMV depending on your locale, of course.

[Sunlei]

3. not gaining near as fast as my property taxes rise each year!! :*(

or as fast as I throw money into necessary repairs!, bah humbug !

[PasadenaTrudy]

4. Bubbling again here in SoCal....n/t