Home Prices in U.S. Show Slower Year-to-Year Increase in August
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Home prices in 20 U.S. cities rose at a weaker pace in the year ended in August as borrowing standards remain tight and wage gains fail to accelerate.
The S&P/Case-Shiller index of property values increased 5.6 percent from August 2013, the smallest gain since November 2012, after rising 6.7 percent in the year ended in July, a report from the group showed today in New York. The median projection of 32 economists surveyed by Bloomberg called for a 5.7 percent advance. Nationally, prices rose 5.1 percent year-to-year after a 5.6 percent gain in July.