Home price gains slowing

Home prices declined for the second consecutive month in December, dropping 0.1 percent month over month, according to the S&P/Case-Shiller 20-City Composite Index.

“The S&P/Case-Shiller Home Price Index ended its best year since 2005,” said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, in a statement. “However, gains are slowing from
month to month and the strongest part of the recovery in home values may be over.”

On an annual basis, home prices were up 13.4 percent year over year.

Source: S&P/Case-Shiller Home Price Indices