Home prices stay flat in February

Home prices were flat month over month on an unadjusted basis in February, but were still up sharply from a year before, according to the S&P/Case-Shiller Home Price Indices.

The S&P/Case-Shiller 20-City Composite Index didn’t budge month over month in January but posted a 12.9 percent gain compared to a year before.

That’s a considerable annual price gain, but David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said the “the annual rates cooled the most we’ve seen in some time.”

Prices in 13 of the 20 cities tracked by index decreased on an unadjusted basis in February with Cleveland (1.6 percent), Chicago (0.9 percent) and Minneapolis (0.9 percent) posting the largest declines.

Source: S&P Dow Jones Indices