Price Gains Slow; Will We See 7% Next Year?

Home price gains slowed slightly in October with both S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reporting lower annual increases in October than in September. There was a slight uptick, however, in the monthly gain in FHFA’s House Price Index (HPI). The Case Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, rose 19.1 percent on an annual basis in October. The annual gain in September was 19.7 percent. The 10 City Composite came in with a 17.1 percent increase, down from 17.9 percent and the 20-City Composite posted an 18.4 percent year-over-year gain compared to 19.1 percent the previous month. Phoenix had the highest annual appreciation, its 29 th consecutive month in first place, at 32.3 percent. Tampa, and Miami retained their