Home prices are still improving, according to the S&P/Case-Shiller Home Price Indices, but the rate is decreasing to a “moderate pace.”
The report accounted for home prices through October and puts average home prices at a similar level to those recorded during the fall of 2003.
The 10-City and 20-city Composite Home Price Indices showed improvement in October compared to September, but both were down compared to the same month a year ago, at 6.4 percent and 7.3 percent respectively.
“The turn-around in home prices seen in the spring and summer has faded… All in all, this report should be described as flat,” Case-Shiller said.
