By Jann Swanson | Mortgage News Daily
Home price gains continued to slow in May, posting smaller annual increases than In April the S&P Dow Jones Indices said today. The Indices’ Case-Shiller 10-City Composite Index was up 9.4 percent compared to May 2013 and the 20-City was 9.3 percent higher. In April the two composites posted annual increases of 10.9 and 10.8 percent respectively.
Both Composites increased by 1.1 percent from April to May and for the second straight month all 20 cities had positive returns. But that’s only true on an unadjusted basis. When it comes to to home price data, seasonal buying/selling trends tend to be kind to prices in the spring and summer months. Adjusting for those affects, prices were down 0.3 percent in May–the first seasonally-adjusted decline in more than 2 years.
