Case-Shiller: Home Price Gains Cooling Off

NEW YORK CITY—“Five years into the recovery from the recession, the economy will need to look to gains in consumer spending and business investment more than housing,” says S&P Down Jones' Blitzer.

By Paul Bubny | Updated on April 29, 2014

NEW YORK CITY—Home-price gains slowed down in February, S&P Dow Jones Indices said Tuesday in releasing its latest S&P/Case-Shiller Home Price Indices. The 10-City and 20-City Composites posted annual increases of13.1% and 12.9%, respectively, Meanwhile, the US Census Bureau said home ownership across the US has reached its lowest level in nearly 20 years.

“Despite continued price gains, most other housing statistics are weak,” says David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices. “Sales of both new and existing homes are flat to down. The recovery in housing starts, now less than one million units at annual rates, is faltering.”

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